COMPANIES

SRA files IPO of common stock with SEC

Just a few days after rumors of a sale were swirling around SRA, the company has filed a registration statement for a proposed initial public offering of its common stock.

SRA’s owner, Providence Equity Partners, has held the company since 2011 after acquiring it for $1.9 billion. Since then, SRA has continued to carry a significant amount of debt, standing at over $1 billion, which is where it has been since 2012.

Bank of America Merrill Lynch and Citigroup will act as joint book-runners of the proposed offering, SRA said in a release.

The registration statement relating to these securities has been filed with the Securities and Exhance Commission, but has not yet become effective, the company said.

SRA has filed to raise up to $100 million in IPO.

About the Author

Mark Hoover is a senior staff writer with Washington Technology. You can contact him at mhoover@washingtontechnology.com, or connect with him on Twitter at @mhooverWT.

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