Karman Holdings Raises $506 Million in Upsized IPO, Valued at $3 Billion
Karman Holdings and its shareholders raised $506 million in an upsized New York initial public offering (IPO) on February 9, 2023. The offering valued the defense and space systems maker at approximately $3 billion.
The company sold 23 million shares at $22 per share, above the previously announced range of $18 to $20. Karman sold approximately 8.4 million shares, while the remaining shareholders sold about 14.6 million. The company had initially planned to sell around 21 million shares.
Karman's shares will begin trading on the New York Stock Exchange on February 13, 2023, under the ticker symbol "KRMN." Private equity firm Trive Capital will retain majority voting power in the company after the IPO.