York Space Systems, which makes satellites and mission-critical systems for space and defense programs, raised $629 million by offering 18.5 million shares at $34, the high end of the range of $30 to $34. The company had originally planned to offer 16.0 million shares. At pricing, York commands a fully diluted market value of $4.3 billion, 8% higher than previously anticipated
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 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 acted as joint bookrunners on the deal.
