Parsons Corporation Announces Full Exercise and Closing of Underwriters’ Over-Allotment Option in Initial Public Offering

CENTREVILLE, Va.May 14, 2019 /PRNewswire/ — Parsons Corporation (“Parsons”), a provider of technology-driven solutions in the defense, intelligence and critical infrastructure markets, today announced the closing of the issuance of an additional 2,777,775 shares of its common stock pursuant to the exercise in full of the underwriters’ over-allotment option in connection with its initial public offering (the “IPO”). The additional shares were sold at the IPO price of $27.00per share, before underwriting discounts and commissions.

Parsons estimates its net proceeds from the sale of the additional shares to be approximately $70.9 million, after deducting underwriting discounts and commissions, bringing the total net proceeds from the IPO to $533.8 million, after deducting underwriting discounts and commissions and estimated offering expenses. Parsons’ shares of common stock trade on the New York Stock Exchange, under the ticker symbol “PSN.”

Goldman Sachs & Co. LLC, BofA Merrill Lynch and Morgan Stanley served as joint lead book-running managers for the offering. Jefferies and Wells Fargo Securities served as Senior Co-Managers and Cowen, SunTrust Robinson Humphrey, MUFG and Scotiabank served as Co-Managers for the offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on May 7, 2019. The offering was made only by means of a prospectus. A copy of the final prospectus relating to this offering may be obtained from any of the following sources:

  • Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: [email protected];
  • BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or via email: [email protected]; or
  • Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Parsons Corporation

Parsons is a leading provider of technology-driven solutions focused on the defense, intelligence and critical infrastructure markets.  Celebrating 75 years of operations, Parsons provides technical design and engineering services and software to address our customers’ challenges.  Parsons has differentiated capabilities in cybersecurity, intelligence, defense, military training, connected communities, physical infrastructure and mobility solutions.  Parsons’ combination of talented professionals and advanced technology enables a safer, smarter and more interconnected world.

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