NCI plans public stock offering
- By John Moore
- Sep 08, 2005
NCI, a systems integrator formerly known as NCI Information Systems, is planning to go public soon, and expects to raise $47.4 million through its initial public offering (IPO) of stock.
NCI filed its IPO registration statement with the Securities and Exchange Commission in July. The company’s amended Sept. 6 filing states that it will offer 5.15 million shares at an estimated price of $10 to $12 per share. The IPO will take place as soon as possible, according to the company's filing.
The integrator’s IPO follows close on the heels of Science Applications International Corp.’s announcement of its intent to become a public company. That company’s IPO is scheduled for early next year. SAIC plans to sell as much as $1.73 billion in common stock.
NCI plans to use proceeds of the IPO to repay debt. In addition, the company will use the funds “for working capital and general corporate purposes, including potential acquisitions,” according to SEC documents.
The company’s registration statement states that NCI intends to make strategic acquisitions that broaden its client base and expands its service offerings.
In 2003, the company acquired Scientific and Engineering Solutions.
The company’s 1,450 employees provide systems development, systems integration, information assurance and network engineering among other services. NCI officials declined to comment.