Applied Aerospace to raise up to $682.5M in NYSE IPO

Investing.com -- Applied Aerospace & Defense, Inc filed on Tuesday for a 32,500,000 share IPO at $18-$21 per share on the New York Stock Exchange, targeting to raise as much as $682.5 million

The Huntsville, Alabama-based company manufactures space and defense hardware, including fuselage, flight control surfaces, solid rocket motor cases and engine shafts for space and defense technology companies. Its customers include Anduril Industries, Boeing and GE Aerospace, according to its website.

Greenbriar Equity Group combined Applied Aerospace, founded in 1954, and PCX Aerosystems, founded in 1900, last year to form Applied Aerospace & Defense.

Applied Aerospace & Defense plans to sell new shares in the offering. Roughly 83% of the firm's revenue came from U.S. government contracts in the twelve months ended December 31.

The company reported a net loss of $17 million on revenue of $498.8 million in the fiscal year ended December 31, compared with a net loss of $34.8 million on revenue of $399.8 million a year earlier. Revenue surged 24.8% in 2025.

Applied Aerospace & Defense will list on the NYSE under the symbol "AADX."

Morgan Stanley and Jefferies will serve as lead underwriters. BofA Securities, RBC Capital Markets, Guggenheim Securities, Baird, Stifel, Wolfe | Nomura Alliance and Academy Securities are also among underwriters.

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