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CHANTILLY, Va. - Amentum Holdings, Inc. (NYSE: AMTM), a global engineering and technology solutions provider, has announced the pricing of its secondary underwritten public offering of 19,464,174 shares of common stock at $16.50 per share, near its 52-week low of $16.95. The stock has declined over 42% in the past six months, with current trading at $17.04. The transaction is anticipated to close on March 13, 2025, subject to customary closing conditions.InvestingPro analysis indicates the stock may be undervalued, with 12 additional ProTips available to subscribers covering growth prospects and financial health metrics.
The offering involves a subsidiary of Jacobs Solutions Inc. (NYSE: J) exchanging shares for indebtedness held by an affiliate of BofA Securities, Inc., the selling shareholder. Post-exchange, the selling shareholder plans to sell the shares to the underwriters. Jacobs will divest its ownership in Amentum’s common stock, retaining only potential shares from an escrow contingent on specific performance milestones related to the merger of Jacobs’ Critical Mission Solutions and Cyber & Intelligence businesses with Amentum Parent Holdings LLC.
Joint book-running managers for the offering include BofA Securities, J.P. Morgan, Morgan Stanley, BNP Paribas, and TD Cowen. The securities are offered through a prospectus supplement and prospectus forming part of a registration statement on Form S-1, which has been declared effective by the Securities and Exchange Commission.
Amentum emphasizes that this press release does not constitute an offer to sell or a solicitation of an offer to buy the securities, nor will there be any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful.
Headquartered in Chantilly, Virginia, Amentum employs over 53,000 people worldwide and operates in approximately 80 countries. The company generated $9.8 billion in revenue over the last twelve months, with a robust current ratio of 1.59 indicating strong liquidity. The company is recognized for addressing significant challenges in science, security, and sustainability for the United States and its allies.Dive deeper into Amentum’s financial health with InvestingPro, which provides comprehensive analysis including Fair Value estimates and growth projections.
The press release includes forward-looking statements regarding future events and expectations, which are subject to various risks and uncertainties that could cause actual results to differ materially from those projected. While analysts forecast sales growth and profitability for the current year, these risks include changes in economic conditions, compliance with laws and regulations, government contracts, reputation, cost control, competition, retention of key personnel and customers, and the realization of benefits from the 2024 transaction with Jacobs Solutions Inc.
This article is based on a press release statement from Amentum Holdings, Inc.
In other recent news, Amentum Holdings has released its unaudited pro forma financials for the fiscal year ending September 27, 2024. This disclosure, filed with the U.S. Securities and Exchange Commission, provides an adjusted view of the company’s performance, considering certain transactions that have occurred. Additionally, Amentum has secured a significant $822.7 million contract with NASA to provide operational support and advanced technologies at Stennis Space Center and Michoud Assembly Facility. This contract, known as COSMIC, will span over eight years and is expected to enhance operations through facility solutions, engineering capabilities, and digital engineering tools.
Moreover, Amentum announced a secondary underwritten public offering of 19,464,174 shares of its common stock, involving a debt-for-equity exchange with a subsidiary of Jacobs Solutions Inc. Notably, the company itself is not selling any shares and will not receive proceeds from this offering. In a strategic move, Amentum has also partnered with Rivada Space Networks to create the Outernet, a secure satellite network designed to bolster communications for U.S. government operations. This collaboration introduces a constellation of 600 low earth orbit satellites aimed at providing secure and efficient data transmission.
In governance-related developments, Amentum held its Annual Meeting of Stockholders, where all nominated individuals were elected to the board of directors, and Ernst & Young LLP was ratified as the independent auditor for fiscal year 2025. The meeting also saw the approval of executive compensation plans, reflecting shareholder confidence in the company’s leadership. These recent developments highlight Amentum’s ongoing efforts in expanding its operations and securing strategic partnerships.
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