Applied Aerospace Shares Rise 3.75% After $650 Million IPO Prices at $20
Updated
Updated · Bloomberg · Jun 3
Applied Aerospace Shares Rise 3.75% After $650 Million IPO Prices at $20
1 articles · Updated · Bloomberg · Jun 3
Summary
Applied Aerospace & Defense opened at $20.75, up about 3.75% from its $20 IPO price in its Nasdaq trading debut.
The Huntsville, Alabama-based space and defense engineering firm raised $650 million by selling 32.5 million shares, with the deal priced near the top of its $18-to-$21 marketed range.
That pricing signaled solid investor demand for the offering, which landed just below the top end before shares added further gains in early trading.