Telos Resolves Protest With Federal Government On An Award Worth Up To $485M Over 5-Years
Portfolio Pulse from Benzinga Newsdesk
Telos Corporation (NASDAQ:TLS) has resolved a protest regarding a federal government award worth up to $485 million over five years. The protest withdrawal allows Telos to proceed with the contract, while another $40 million award remains under protest.
August 28, 2024 | 3:15 pm
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Telos Corporation has successfully resolved a protest on a significant federal government award worth up to $485 million, allowing the company to proceed with the contract. This development is positive for Telos' revenue prospects, although another smaller award remains under protest.
The resolution of the protest on the $485 million award is a significant positive development for Telos, as it allows the company to proceed with the contract, potentially boosting its revenue. The lifting of the 'Stop-Work Order' indicates that work can commence, which is likely to have a positive impact on the stock price. However, the ongoing protest on the $40 million award introduces some uncertainty, but it is relatively smaller in comparison.
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