Core Data & IPO Metrics:
- Target Valuation: Up to $3.59 billion.
- Capital Target: Seeking to raise up to $682.5 million.
- Share Offering: Offering 32.5 million shares priced between $18 and $21 apiece.
- Listing Details: Will list on the New York Stock Exchange (NYSE) under the ticker “AADX”.
- Underwriters: Led by Morgan Stanley and Jefferies.
Company Profile & Strategic Drivers:
- Operations: Based in Huntsville, Alabama; manufactures critical defense components including fuselages, flight control surfaces, solid rocket motor cases, and engine shafts.
- Corporate Origins: Formed in 2025 by private equity firm Greenbriar Equity Group through the merger of Applied Aerospace (est. 1954) and PCX Aerosystems (est. 1900). It subsequently expanded by acquiring Consolidated Boring Inc, Vestigo Aerospace, and Rainwater Holdings.
- Market Catalyst: The filing capitalizes on surging investor appetite for defense assets amid rising global budgets and protracted Middle East conflicts. It follows recent New York IPOs from sector peers Arxis, AEVEX, and HawkEye 360.