Reuters: IPOX® CEO Josef Schuster Comments on Lyntris’ NYSE Debut and Investor Selectivity
IPOX®® CEO Josef Schuster commented on Lyntris’ New York debut after shares fell 11.4%, valuing the defense contractor at $1.78 billion. Schuster said the market was discounting the company’s capital structure rather than treating it like a venture capital deal. He also noted that higher U.S. bond yields were pushing investors away from riskier, less-seasoned companies, including recent IPOs, even as earnings remained strong. Lyntris priced its IPO below its marketed range and reduced the offering size to 17 million shares, raising $297.5 million.
