DigitalNet tries again for IPO

CEO Ken Bajaj: DigitalNet tries again.

Digital Net Holdings Inc. has again filed for an initial public offering of stock. No date has been set, but the company expects to raise $86.3 million, according to the company's Aug. 8 filing with the Securities and Exchange Commission.

Last January, DigitalNet, led by Chief Executive Officer Ken Bajaj, filed for an IPO but withdrew it in May, citing poor market conditions.

Citigroup Global Markets Inc. and UBS Securities LLC are the book-running managers of the offering, with Legg Mason Wood Walker Inc. and Raymond James & Associates Inc. as co-managers.

The pricing and number of shares to be offered were not disclosed in the company's filing. DigitalNet said it would use the proceeds to pay off about $47.7 million in debt. Any other proceeds will be used for corporate purposes including working capital.

About the Author

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

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here


  • POWER TRAINING: How to engage your customers

    Don't miss our Aug. 2 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More


    In our latest Project 38 Podcast, editor Nick Wakeman interviews Tom Romeo, the leader of Maximus Federal about how it has zoomed up the 2019 Top 100. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.