Applied Aerospace & Defense, which manufactures equipment and components for aerospace and defense uses, raised $650 million by offering 32.5 million shares at $20, within the $18 to $21 range. At pricing, the company commands a fully diluted market value of $3.4 billion.
Applied Aerospace & Defense was formed in December 2025 through the merger of Applied Aerospace, founded in 1954, and PCX Aerosystems, founded in 1900. The company provides design, engineering, and manufacturing services for the space and defense industries, producing complex subsystems built to withstand extreme operating environments. It serves three primary markets: space and launch systems; defense aviation and airborne systems; and C5ISR and precision strike systems. Operating through a network of domestic manufacturing facilities, the company supports programs ranging from early-stage prototyping and new product development to large-scale production and aftermarket sustainment. Its customer base spans both established aerospace and defense prime contractors and emerging technology companies.
The Huntsville, AL-based company will trade on the NYSE under the symbol AADX. Morgan Stanley, Jefferies, BofA Securities, RBC Capital Markets, Guggenheim Securities, Baird, Stifel, WR Securities, and Nomura Securities acted as joint bookrunners on the deal.
