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Updated · Yahoo Finance · Aug 19Lyntris Raises $297.5 Million in 17 Million-Share NYSE IPO
3 articles · Updated · Yahoo Finance · Aug 19Summary
- $297.5 million was raised after Lyntris sold 17 million shares at $17.50 each and prepared to begin trading on the NYSE under ticker LYNX.
- The defense tech listing came through a downsized IPO, with the shares priced below the earlier $19-to-$22 marketing range.
- Trive Capital, Lyntris's top shareholder, sold the shares in the offering, marking the company's entry into the public market.
- The debut lands as investors also watch Fed minutes and fresh earnings from retailers including Target, TJX and Lowe's.
Insights
Despite a doubled $923 million backlog, why did defense tech giant Lyntris suffer a massive valuation haircut in its public debut? How will Lyntris leverage its new capital to turn autonomous battlefield technology into actual profit after a rocky first day?