Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTColleen CabiliThu, June 4, 2026 at 4:02 PM GMT+2 2 min readApplied Aerospace & Defense raised $650 million in its initial public offering on the New York Stock Exchange on Wednesday, pricing 32.5 million shares at $20 each.Priced at $20 per share, the deal landed inside the $18 to $21 range the company had marketed to investors, according to Reuters. Wednesday's debut ended with the stock settling at $19.01 — a 5% drop from where it was priced — according to Bloomberg. Using the outstanding share count from its regulatory filings, Bloomberg put the company's total market capitalization at $3.25 billion.The Huntsville, Alabama-based company manufactures systems for space launch vehicles, defense aircraft, missile platforms, and other defense applications. On the hardware side, the company produces everything from flight-critical assemblies and precision aerospace components to deployable systems designed for use in space, according to Satellite Today. Customers include Anduril Industries, Boeing, and GE Aerospace, according to Reuters.The company traces its origins to a deal engineered by Greenbriar Equity Group, which had separately owned both Applied Aerospace and PCX Aerosystems before merging them last December, according to Satellite Today. The combined company then acquired Vestigo Aerospace. Per its SEC filing, Greenbriar will hold roughly 81% of the combined company once the offering concludes.Full-year 2025 results disclosed in the company's S-1 showed $498.8 million in revenue — up nearly 25% from the prior year — alongside a net loss of $17 million. Through the first three months of 2026, the company brought in $134.4 million in revenue while recording a $15.1 million net loss, according to Bloomberg. Outstanding orders, including work tied to U.S. government programs, total nearly $1.1 billion."Becoming a public company is a natural step in our evolution that allows us to pay down debt, while we continue to execute on our growth strategy," David Myers, senior vice president of marketing and strategy told Satellite Today.The IPO is the latest in a wave of defense and aerospace listings on U.S. exchanges. Recent months have seen a flurry of similar listings, with Hawkeye 360's $478.4 million signals intelligence IPO closing in May and drone company Aevex Corp. making its market debut in April. The aerospace and defense sector has drawn strong investor interest, with the benchmark S&P Aerospace and Defense Select Industry Index up 44% in 2025.The underwriting syndicate was led by Morgan Stanley and Jefferies Financial Group, and the stock began trading on the NYSE under the ticker AADX.Terms and Privacy PolicyPrivacy & Cookie SettingsMore Info