Lyntris, a roll-up providing defense technology and connectivity solutions, raised $298 million by offering 17 million shares (66% secondary) at $17.50, below the $19 to $22 range. The offering contained 7 million fewer shares than anticipated. Primary shares were slightly higher; the company offered 0.8 million more shares than expected.
Lyntris is a defense technology company that supplies connectivity solutions for military customers, including the US Department of Defense and allied nations. The company's offerings span three areas: sensor architecture (embedded software and signal processing that turns raw sensor input into usable data), sensor hardware (proprietary RF and antenna systems, radar, and related subsystems), and data/software platforms that combine information to support command-and-control and mission execution. Its solutions are used across maritime domain awareness, air and missile defense, and space ISR and communications missions. The company was formed in 2026 through the combination of two previously separate businesses, Accelint and Vitesse, both formed by Trive Capital through a series of mergers.
The Falls Church, VA-based company will trade on the NYSE under the symbol LYNX. Evercore ISI, Citi, Guggenheim Securities, BofA Securities, Baird, Raymond James, and William Blair acted as joint bookrunners on the deal.
