Karman (KRMN.US), a manufacturer of integrated systems for U.S. space and defense projects, successfully priced its IPO at $22/share tonight.

Karman Holdings, a manufacturer of integrated systems for U.S. space and defense projects, will trade on the New York Stock Exchange under the ticker "KRMN" as of 2/13/2023. The company's IPO priced at $22 per share, above the previously announced $18-$20 per share pricing range. The company will sell 23 million shares to raise $506 million.

The company currently operates under the name Karman Space and Defense, providing mission-critical systems for existing and emerging missile and defense and space programs. Its integrated payload protection, propulsion, and interstage systems solutions are deployed across various programs supporting critical U.S. Department of Defense and space programs. 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 across 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.