ASHBURN, Va., April 01, 2021 (GLOBE NEWSWIRE) -- Telos Corporation (Nasdaq: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, announced today the pricing of its follow-on offering of 7,905,139 shares of common stock at a price of $33.00 per share, including a secondary public offering of 6,662,073 shares of common stock by certain existing stockholders of Telos. Telos will not receive any proceeds from the shares of common stock sold by the Selling Stockholders. The Offering is expected to close April 6, 2021.

B. Riley Securities, BMO Capital Markets, and Needham & Company are acting as joint bookrunners for the Offering. D.A. Davidson & Co., Wedbush Securities, Colliers Securities LLC, Northland Capital Markets, and MKM Partners will serve as co-managers for the Offering. Telos has granted the underwriters a 30-day option to purchase up to an additional 1,185,770 shares of common stock at the offering price, including 378,836 shares of common stock from the Selling Stockholders, less underwriting discounts and commissions, to cover over-allotments, if any.

The shares of common stock described above are being offered by Telos and the Selling Stockholders pursuant to a “shelf” registration statement that was filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2021, which was automatically effective upon filing, and a preliminary prospectus supplement. The Offering will be made only by means of a written prospectus, including the prospectus supplement, that forms part of the registration statement.

About Telos Corporation

Telos Corporation empowers and protects the world’s most security-conscious organizations with solutions for continuous security assurance of individuals, systems, and information. Telos’ offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable continuous compliance with industry and government security standards; and enterprise security solutions for identity and access management, secure mobility, organizational messaging, and network management and defense. The company serves military, intelligence and civilian agencies of the federal government, allied nations and commercial organizations around the world.