Drone maker Aevex descends as PE sponsor trims stake in $216 mln stock offering

Aevex

04/06/2026 11:59

** Drone maker Aevex's AVEX.N shares down 2.7% at $26.91 before the bell on Thurs after $216 mln stock offering priced
** Solana Beach, California-based firm late Weds announced 8 mln shares at $27, a 2.4% discount to last sale
** AVEX shares dropped ~28% over the past two sessions after co commenced the offering late Mon
** Co offers ~5.73 mln shares and existing shareholders offload ~2.27 mln shares
** AVEX intends to use net proceeds it receives to purchase shares from members of ATS Investment Holdings, including entities controlled by Madison Dearborn Partners, per the prospectus
** Post offering, private equity firm Madison Dearborn retains 70% voting power
** Goldman Sachs, BofA and Jefferies joint lead bookrunners for offering
** AVEX went public on Apr 17 after selling 16 mln shares in IPO priced at $20
** All 8 analysts are bullish including 3 "strong buy" ratings; median PT $35, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))