Applied Aerospace Seeks $682.5 Million IPO as Space Firms Rush Ahead of SpaceX Listing
Updated
Updated · Bloomberg · May 26
Applied Aerospace Seeks $682.5 Million IPO as Space Firms Rush Ahead of SpaceX Listing
1 articles · Updated · Bloomberg · May 26
Applied Aerospace & Defense aims to raise up to $682.5 million by selling 32.5 million shares at $18 to $21 each, according to a Tuesday SEC filing.
At the top of that range, the Huntsville, Alabama-based space and defense engineering company would be valued at about $3.6 billion based on its listed outstanding shares.
Greenbriar Equity Group backs the company, which is tapping public markets as space and defense firms move to list before a potential SpaceX IPO later this year.
With soaring debt and recent losses, can this defense IPO truly capitalize on the global arms race before a larger market debut?
As warfare shifts to drone swarms, can a traditional engineering firm pivot fast enough to meet the new demands for 'precise mass' weaponry?