Alion plans public offering to pay down debt
In a registration statement that the company filed with the U.S. Securities and Exchange Commission Wednesday, Alion Science and Technology said that it plans to go public to raise money to pay down debt.
Alion Science and Technology will soon be a publically owned company.
In a registration statement that the company filed with the U.S. Securities and Exchange Commission today, the company said that it plans raise up to $100 million in its initial public offering.
The company has not yet disclosed the details of the offering, but said that it plans to use its net proceeds to help pay off approximately $576 million in debt.
Credit Suisse Securities LLC, Jeffries LLC and Wells Fargo Securities LLC will act as underwriters for the proposed offering, Alion said in a release.
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