SAI 17.78
SAIC, Inc. Announces Closing of Initial Public Offering
biz.yahoo.com
Underwriters Exercise Over-Allotment Option in Full
Thursday October 19, 5:59 pm ET
-- SAIC, Inc. (NYSE: SAI - News) announced the closing of its initial public offering on October 17, 2006 of 86,250,000 shares of common stock, which includes the exercise of the underwriters' over-allotment option to purchase 11,250,000 shares. The offering was priced at $15.00 per share and resulted in net proceeds to SAIC of approximately $1,245,000,000, after deducting underwriting commissions and discounts, but before other offering-related expenses.
SAIC is a leading provider of scientific, engineering, systems integration and technical services and solutions to all branches of the U.S. military, agencies of the Department of Defense, the intelligence community, the U.S. Department of Homeland Security and other U.S. Government civil agencies, as well as to customers in selected commercial markets. With more than 43,000 employees in over 150 cities worldwide, SAIC engineers and scientists solve complex technical challenges requiring innovative solutions for customers' mission-critical functions. SAIC had annual revenues of $7.8 billion for its fiscal year ended January 31, 2006. |
