L-3 Communications was a leading supplier of sophisticated secure communication systems and specialized communication products including secure, high data rate communication systems, microwave components, avionics and ocean systems, and telemetry, instrumentation and space products. These systems and products were critical elements of virtually all major communication, command and control, intelligence gathering and space systems.
L-3 had been formed from the acquisition of certain assets owned by Lockheed Martin as a result of that company’s purchases of Loral and GE Aerospace. Management desired to replace a portion of the debt incurred as part of the formation of the Company as well as have resources for potential acquisitions.
A principal of Carter Morse & Mathias acted as a managing underwriter on L-3 Communications’ IPO.