L3Harris files confidentially for missile-solutions business IPO

7 articles · Updated · MarketWatch · Apr 30

The Melbourne, Florida, company said share numbers and pricing are undecided, and the offering depends on market conditions and SEC review.
The filing advances a January plan to spin off the unit into a separate listed company after a $1 billion Pentagon minority investment closed last week.
L3Harris will keep a controlling stake in the business, which makes rocket components for US and allied systems including Patriot, Thaad and Tomahawk missiles.

As L3Harris spins off its missile unit, how will a government-backed IPO reshape competition in the defense industry?

Is the Pentagon's $1B investment in a defense firm the future of military readiness or a risky market distortion?