Wynnefield Capital: Congrats Telos
Don't forget - sign up for our free daily newsletter to stay in the activist investing know. Wynnefield Capital, which owns 15.5% after taking its stake from 12.7%, congratulated the company on getting the go-ahead from the Air Force’s NETCENTS-2 Program Office to compete in both full and open and small business competition categories. Following an 18-month protest delay, Telos is now ready to support government customers under the contract which is a preferred vehicle for acquisitions by agencies throughout the federal government.
Wynnefield bought up Preferred Shares of Telos in May and July of 2015 given their belief in the inherent value of the Preferred Shares. The Wynnefield Reporting Persons intend to continue their efforts to have the FULL value of their Preferred Shares realized through the redemption of their principal and all accrued dividend arrearages, and may contact Telos as part of these efforts.
Wynnefield notes that the word “ages” is contained within the word “arrearages” -- as in the Preferred Shareholders have waited “AGES” to receive the payments due them from Telos. Telos is entering a period where the full value of the Company will be evident to strategic buyers and allow both the Preferred Shareholders and other shareholders to benefit greatly from a sale of the company.
Telos is a nearly $500M market cap information technology (IT) company. The Company focuses on secure enterprise solutions that address the requirements of the federal government, the military, and the intelligence community, as well as commercial enterprises that require secure solutions.