Parsons Corporation Announces Pricing of Initial Public Offering

CENTREVILLE, Va., May 7, 2019 /PRNewswire/ -- Parsons Corporation ("Parsons"), a provider of technology-driven solutions in the defense, intelligence and critical infrastructure markets, today announced the pricing of its initial public offering of 18,518,500 shares of its common stock at a price to the public of $27.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 2,777,775 shares of common stock. The shares are expected to begin trading on the New York Stock Exchange on May 8, 2019, under the ticker symbol "PSN." The closing of the offering is expected to occur on May 10, 2019, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, BofA Merrill Lynch and Morgan Stanley are serving as joint lead book-running managers for the offering. Jefferies and Wells Fargo Securities are serving as Senior Co-Managers and Cowen, SunTrust Robinson Humphrey, MUFG and Scotiabank are serving as Co-Managers for the offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on May 7, 2019. The offering will be made only by means of a prospectus. A copy of the final prospectus relating to this offering may be obtained, when available, from any of the following sources:

• Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: [email protected];
• BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or via email: [email protected]; or
• Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Parsons Corporation

Parsons is a leading provider of technology-driven solutions focused on the defense, intelligence and critical infrastructure markets.  Celebrating 75 years of operations, Parsons provides technical design and engineering services and software to address our customers' challenges.  Parsons has differentiated capabilities in cybersecurity, intelligence, defense, military training, connected communities, physical infrastructure and mobility solutions.  Parsons' combination of talented professionals and advanced technology enables a safer, smarter and more interconnected world.

Investor Relations Contact:
Dave Spille
Parsons Corporation
571.655.8264
[email protected]

Media Contact:
Brian Schaffer
Prosek Partners
[email protected]

SOURCE Parsons Corporation

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