Deal Details

Leonardo DRS Completes $367.4 Million Follow-On Offering

Technology & Services
Industrial

Leonardo DRS follow-on offering

Summary

Leonardo DRS, Inc. (NASDAQ: DRS) (“Leonardo DRS” or the “Company”) recently completed an upsized secondary public offering of the Company's common stock (the "Offering") by Leonardo US Holding, LLC (the “Selling Stockholder”), a subsidiary of Leonardo S.p.A. The aggregate size of the Offering was 20,700,000 shares, including 2,700,000 shares pursuant to the full exercise of the underwriters' option to purchase additional shares from the Selling Stockholder at a price of $17.75 per share. Leonardo DRS did not receive any proceeds from the Offering.

Baird served as a bookrunner on the Offering.

About

Leonardo DRS is an innovative and agile provider of advanced defense technology to U.S. national security customers and allies around the world. The Company specializes in the design, development, and manufacture of advanced sensing, network computing, force protection, electric power and propulsion, and other leading mission-critical technologies. Leonardo DRS’ innovative people are leading the way in developing disruptive technologies for autonomous, dynamic, interconnected, and multi-domain capabilities to defend against new and emerging threats. Leonardo DRS, Inc. is headquartered in Arlington, Virginia.