Lyntris Shares Fall 11% in New York Debut, Valuing Defense Contractor at $1.8B

3-line summary

• Shares of defense contractor Lyntris fell 11.4% in their New York trading debut, opening at $15.50 versus a $17.50 IPO price and valuing the company at about $1.78 billion, according to Reuters.
• The Falls Church, Virginia-based company had downsized its IPO to 17 million shares a day earlier, raising $297.5 million after initially marketing 24 million shares at $19-$22 apiece.

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