Debt-laden DoD contractor Alion Science and Technology files for a $100 million IPO

Thursday, Apr 30, 2015

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.


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