Monday, October 23, 2006

Stanley Inc., an Arlington provider of information technology consulting services to the federal government, on Wednesday priced its initial public offering of 6.3 million shares at $13 each, raising $81.9 million. It began trading that day on the New York Stock Exchange under the symbol SXE.

About 5.3 million shares are being offered by Stanley and about 1 million shares are being offered by stockholders of the company. Underwriters have the option to buy an additional 945,000 shares to cover over-allotments. Previously, the company said it expected to price the shares between $12 and $14. Stanley expects to use net proceeds to repay part of its outstanding debt under its senior credit facility.

Stanley was established in 1966 as a small consulting firm. Now it has 2,300 employees at more than 100 locations in the United States and worldwide, and has made four acquisitions in the past five years.

-- Kim Hart