NEW YORK, Oct. 24, 2013 (GLOBE NEWSWIRE) -- Global Defense & National Security Systems, Inc. (the "Company") (Nasdaq:GDEF), a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business in the U.S. defense and national security sectors, today announced the pricing of its initial public offering of 6,000,000 shares of common stock at $10.00 per share for gross proceeds of $60,000,000.
The Company's shares of common stock are expected to begin trading today on the NASDAQ Capital Market under the ticker symbol GDEF. The Company has granted the underwriters a 45-day option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any.
Cowen and Company, LLC acted as bookrunning manager of the offering, and Maxim Group LLC and I-Bankers Securities, Inc. acted as co-managers of the offering.
The offering of these securities will be made only by means of a prospectus. A registration statement relating to the securities has been filed with, and declared effective by, the Securities and Exchange Commission as of October 24, 2013. 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 in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Copies of the final prospectus relating to the offering, when available, may be obtained for free by visiting the U.S. Securities and Exchange Commission website at http://www.sec.gov. Alternatively, copies of the prospectus related to this offering may be obtained from Cowen and Company LLC at c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone (631) 274-2806, Fax: (631) 254-7140.