Anteon stock hits the street

Anteon Corp. of Fairfax, Va., saw its stock rise 11.4 percent to $20.05 during its March 12 debut on Wall Street. The initial public offering price was set at $18 per share.

Fifteen million shares were offered, including 4,687,500 that are being sold by the company and 10,312,500 being sold by stockholders. Anteon, whose ticker symbol is ANT, expects net proceeds of $76.2 million from the offering.

The money will be used to reduce the company's debt and for working capital and general corporate purposes.

The offering was led by Goldman, Sachs & Co. and co-managed by Bear, Stearns & Co. Inc., Credit Suisse First Boston, Lehman Brothers and Merrill Lynch & Co.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

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