Space and defense co Karman drops after starting secondary offering

Karman Holdings

28/05/2026 21:51

** Karman Holdings' KRMN.N shares down 5.1% post-market to $62.50 after secondary offering news
** Co, doing business as Karman Space & Defense, launches offering of 13.5 mln shares by certain existing holders
** Selling shareholders include private equity firm Trive Capital, per the prospectus 
** Huntington Beach, California-based KRMN has ~132.5 mln shares outstanding
** Citigroup and Evercore are bookrunners for offering
** Alongside offering launch, co provides operational update and says, as of May 25, aggregate value of business opportunities it's pursuing estimated to be approx $3 bln compared to approx $1 bln of active pipeline at end-Mar
** KRMN stock closed up 3.7% at $65.86 on Thurs, trimming YTD loss to 10%
** Of 11 analysts covering the stock, recommendation breakdown is 4 "strong buy", 6 "buy" and 1 "sell"; median PT $107, according to LSEG data
     
     

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