WASHINGTON (dpa-AFX) - Amentum Holdings, Inc. (AMTM), an advanced engineering and technology company, on Monday announced a secondary underwritten public offering of 19.46 million shares of its common stock.
Shares of Amentum are increasing in the open market now.
In connection with the offering, a subsidiary of Jacobs Solutions Inc. (J) is expected to exchange 19,464,174 shares of Amentum's common stock for indebtedness of such subsidiary held by an affiliate of BofA Securities, Inc.
Once the offering is complete, Jacobs will no longer own Amentum shares, except for up to 9,732,087 shares held in escrow.
According to Amentum, it is not selling any shares and will not receive any money from the offering or the debt-for-equity exchange.
These shares may be released based on performance milestones related to the merger of Jacobs' Critical Mission Solutions and Cyber & Intelligence businesses with Amentum.
Amentum is currently trading 9.06% higher at $19.99 on the New York Stock Exchange.
Jacobs is currently trading 0.75% higher at $124.53 on the New York Stock Exchange.
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