Reston-based Bowman Consulting Group raises $51.7M in IPO
Stock fluctuated between $12 and $15 Tuesday
Reston-based civil engineering company Bowman Consulting Group Ltd. has raised $51.73 million in its initial public offering that closed Tuesday, selling 3.69 million shares at $14 a share since Friday.
Sold under the symbol BWMN on the Nasdaq Global Market, shares traded between $12.60 and $14.90 as of Tuesday afternoon.
After closing its sale of Class A Common Stock shares Tuesday, underwriters have a 30-day option to buy up to 553,500 additional shares of common stock to cover over-allotments, the company announced.
President, CEO and Chairman Gary Bowman founded the company in 1995. It employs more than 750 people in more than 32 offices across the United States.
In January, Bowman closed its acquisition of Herndon-based engineering firm KTA Group Inc., which it announced in December.