Alion Science and Technology, which provides naval engineering and systems design services to the US Department of Defense, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
The company has $576 million of debt on its balance sheet, which it plans to pay down with IPO proceeds.
The McLean, VA-based company, which booked $848 million in contract sales (8.5% adj. EBITDA margin) during the 12 months ended December 31, 2014, has not selected a ticker or an exchange. Credit Suisse, Jefferies and Wells Fargo are the joint bookrunners on the deal. No pricing terms were disclosed.