Karman Holdings Inc. Prices Initial Public Offering at $22 Per Share

Karman Holdings Inc. Prices Initial Public Offering

On February 12, 2025, Karman Holdings Inc. announced the pricing of its initial public offering (IPO) for 23 million shares at a price of $22.00 per share. This signifies a strategic move for the company, which specializes in the design and manufacture of systems essential for missile defense and space programs.

IPO Structure and Offerings

The total offering includes approximately 8.42 million shares being offered directly by Karman, while around 14.58 million shares will be sold by existing stockholders. Notably, the company will not receive any proceeds from shares sold by the existing stockholders. Additionally, underwriters have been granted a 30-day option to purchase up to 3.45 million additional shares to cover over allotments, if necessary.

Expected Trading and Closing Dates

Karman's common stocks are anticipated to start trading on the New York Stock Exchange under the ticker symbol KRMN on February 13, 2025. The closing of the IPO is projected for February 14, 2025, subject to standard closing conditions.

Use of Proceeds

The company plans to utilize the net proceeds from the offering to supplement its existing funds for general corporate needs. This includes allocations for development initiatives, working capital, and operational expenses.

Management and Underwriters

The book-running managers for the IPO include Citigroup and Evercore ISI, while RBC Capital Markets and William Blair are serving as joint bookrunners. Baird provides co-management for the offering.

Forward-Looking Statements

Karman's announcement also contains forward-looking statements regarding the anticipated financial outcomes from this initial public offering and the expected use of the raised funds. They caution that projections and expectations are subject to various risks and uncertainties and there can be no guarantee those outcomes will be met as anticipated.

About Karman

Karman Holdings focuses on delivering mission-critical systems tailored to support current and future defense and space initiatives. Their innovative solutions include payload protection and propulsion systems widely adopted by the Department of Defense and across various space programs.

This initial public offering marks a significant step for Karman, positioning the company for growth and greater visibility in the defense and aerospace sectors. Market observers and investors eagerly await the opening of the trading period as Karman heads towards its anticipated launch on the NYSE.