Leonardo’s U.S. Subsidiary Launches IPO
Monday, March 15, 2021 | Comments

Leonardo US Holding, Leonardo’s wholly owned U.S. subsidiary launched its initial public offering (IPO) for a minority stake of Leonardo DRS common shares.

The IPO consists of 31.9 million shares of DRS common stock to be offered at an anticipated IPO price range between $20 and $22 per share. All of the shares to be sold in the offering will be offered and sold by Leonardo US Holding. DRS will not receive any proceeds from the offering. Leonardo US Holding also intends to grant the underwriters a 30-day option to purchase up to an additional 4.785 million common shares at the public offering price less applicable underwriting discounts and commissions.

Post completion of the offering, Leonardo US Holding is expected to hold 78% of the issued and outstanding shares of common stock in DRS and approximately 74.7% if the underwriters’ option to purchase additional shares is exercised in full. DRS expects to list its common stock on the New York Stock Exchange under the ticker symbol DRS.

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