Aevex, which provides military unmanned aircraft systems and services, raised $320 million by offering 16 million shares at $20, within the $18 to $21 range. At pricing, the company commands a fully diluted market value of $2.2 billion.
The company develops unmanned and autonomous systems for defense applications, with a focus on AI-enabled aerial platforms used in missions such as surveillance, reconnaissance, and precision strike. Its products include loitering munitions and other unmanned systems designed to operate in complex or GPS-denied environments, supported by proprietary software for navigation and sensor integration. The company primarily serves the US government (78% of 2025 revenue), as well as allied partners, and generates revenue through the sale of systems and related services across its tactical and global solutions segments.
The Solana Beach, CA-based company will trade on the NYSE under the symbol AVEX. Goldman Sachs, BofA Securities, Jefferies, J.P. Morgan, RBC Capital Markets, Baird, William Blair, Raymond James, and Needham & Co. acted as joint bookrunners on the deal.
