Mentioned:
There’s a new player in defense and security in America. And they’ve just made their Wall Street debut.
What’s happening:
- AEVEX (NYSE: AVEX) has officially priced their IPO financing round and begun trading on the New York Stock Exchange
By the numbers:
- AEVEX will issue 16M common shares at a price of $20.00 USD per share as part of their IPO financing round
Why it matters:
- AEVEX has developed drones and autonomous precision strike systems that are used by the United States Department of Defense and multiple other government agencies including the United States Army
Going deeper:
- Private equity company Madison Dearborn Partners are the single largest shareholders of AEVEX and will control a majority equity stake in AEVEX following the successful closing of their IPO funding round
- AEVEX’s IPO financing is being led by Goldman Sachs and Jeffries
Market reaction:
- Shares of AEVEX surged by more than +30% on their first day of trading
