Anteon seeks public market
Anteon International Corp. wants to join the ranks of publicly traded companies. The Fairfax, Va., firm said it is looking to raise $230 million in an initial public offering of stock, according to documents filed Dec. 21 with the Securities and Exchange Commission.
The company said it will raise about $46.5 million to repay debt and for working capital. The rest will go to stockholders who are selling shares.
The company, led by President and Chief Executive Officer Joseph Kampf, had revenue for the first nine months of 2001 of $525.6 million, 21.7 percent higher than the same period a year ago.
Anteon was the second government-focused IT company in a month to file for an IPO. ManTech International Corp. of Fairfax filed for its IPO Nov. 23. No date has been set yet for either company's debut on the stock market.
Industry analysts are expecting more government-focused companies to file for IPOs as the government market is one of the few bright spots in the economy.