Lyntris Inc., a defense technology company formed in 2026 through the merger of Accelint and Vitesse, both Trive Capital portfolio companies, had a rough welcome to public markets. The company raised $297.5 million in its IPO, pricing 17 million shares at $17.50 each, far below its initial plan to sell 24 million shares at $19 to $22 per share, which would have brought in up to $528 million. Shares dropped 11% on their first day of trading on August 19. Lyntris reported approximately $451 million in revenue for the fiscal year ending June 30, 2026, alongside a net loss of roughly $12 million. Proceeds are earmarked for debt repayment and general corporate purposes, with a significant portion flowing to selling shareholders including Trive Capital.
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