Defense and Space Systems manufacturer Karman Holdings (KRMN.US) has filed for a US IPO, aiming to raise $100 million.

Karman Holdings, a company that manufactures mission-critical systems for defense and space programs, filed an IPO application on Tuesday with the U.S. Securities and Exchange Commission to raise $100 million. The company currently operates under the name Karman Space and Defense, providing early design, testing, manufacturing, and sales services for mission-critical systems for existing and emerging missile and defense and space programs. Its integrated payload protection, propulsion, and interstage system solutions are deployed in support of various programs that support the Department of Defense and Space Department's important plans. Karman's highly engineered solutions are divided into three main series: payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems. These solutions are deployed in three core end markets: hypersonic and strategic missile defense, missile and integrated defense systems, and space and launch. The company was founded in 2020 and had $331 million in revenue over the 12 months ended September 30, 2024. The company plans to list on the New York Stock Exchange under the ticker symbol KRMN. Karman Holdings filed confidentially on October 22, 2024. Citigroup, Evercore ISI, RBC Capital Markets, and William Blair are joint bookrunners on the deal. The company did not disclose pricing terms.