York Space Systems, which makes satellites and mission-critical systems for space and defense programs, announced terms for its IPO on Friday.
The Denver, CO-based company plans to raise $512 million by offering 16 million shares at a price range of $30 to $34. At the midpoint of the proposed range, York Space Systems would command a market cap of $4.0 billion.
York is a space and defense primary contractor, providing design, manufacturing, integration, and operation of spacecraft platforms. Its spacecraft suite includes its S-CLASS, LX-CLASS, and M-CLASS families. York is the number one provider to the Department of Defense PWSA program by spacecraft operating in orbit (33), number of contracts (6), and variety of contract types, and has logged over 4 million on-orbit hours across 74 missions and 17 flight-heritage products. The company operates more than 45 ground antennas worldwide.
York Space Systems was founded in 2012 and plans to list on the NYSE under the symbol YSS. Goldman Sachs, Jefferies, Wells Fargo Securities, J.P. Morgan, Citi, Truist Securities, Baird, and Raymond James are the joint bookrunners on the deal.
