Arxis prices IPO at $28 per share, raising $1.13 billion

Arxis Inc. priced its initial public offering at $28 per share, selling 40.5 million shares of Class A common stock to raise approximately $1.13 billion, the company announced April 15.

The Bloomfield, Connecticut-based company, a portfolio company of Arcline Investment Management, increased the size of its offering and granted underwriters a 30-day option to purchase up to 6.075 million additional shares at the offering price, less underwriting discounts and commissions.

Shares are expected to begin trading on the Nasdaq Global Select Market under the symbol "ARXS" on April 16, with the offering expected to close April 17, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley and Jefferies serve as lead joint book-running managers for the offering. Citigroup and RBC Capital Markets act as joint book-running managers, while Baird, Guggenheim Securities, Wells Fargo Securities, William Blair, Rothschild & Co, and Wolfe | Nomura Alliance serve as book-running managers. Citizens Capital Markets acts as co-manager.

Arxis designs and manufactures electronic and mechanical components for aerospace and defense, medical technology, and specialized industrial markets. The U.S. Securities and Exchange Commission declared the company's registration statement on Form S-1 effective April 15.

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