Applied Aerospace & Defense raises $650 million in US IPO (updated)

General Electric Co

03/06/2026 02:02

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June 2 (Reuters) - Private equity-backed government contractor Applied Aerospace & Defense AADX.N said on Tuesday it had raised $650 million in its U.S. initial public ‌offering after pricing shares at $20 each.
The Huntsville, Alabama-based company sold 32.5 million shares within its indicated price ​range of $18 to $21 apiece.
Defense technology firms are crowding the U.S. IPO market, aiming to capitalize on heightened investor interest sparked by the U.S.-Israeli conflict with Iran.
Issuers are accelerating listing plans to leverage the sector's surging geopolitical relevance and valuation premiums.
Aerospace parts maker Arxis ARXS.O, drone maker AEVEX AVEX.N and ​radio signal analyzer Hawkeye 360 HAWK.N have gone public in New York ‌in ⁠recent weeks.
Middle-market-focused buyout firm Greenbriar Equity Group, last year combined Applied Aerospace and PCX Aerosystems, founded in 1900, to form Applied Aerospace & Defense.
Applied Aerospace, founded in 1954, builds ​a wide range ​of products including ⁠fuselage, flight control surfaces, solid rocket motor cases and engine shafts for space and defense technology companies.
Its customers ​include Anduril Industries, Boeing BA.N and GE Aerospace GE.N, according to ​its ⁠website.
Morgan Stanley and Jefferies are ​among the underwriters on the offering. Applied Aerospace & Defense will list on the NYSE on Wednesday under the symbol "AADX."


 (Reporting by Pritam Biswas in Bengaluru and Carlos Méndez in Mexico City; Editing by Shreya Biswas, Subhranshu Sahu and Sherry Jacob-Phillips)
 ((Pritam.Biswas@thomsonreuters.com;))