AEVEX Corp rode a surge in defence spending and investor appetite for military tech to raise $320 million in its U.S. initial public offering on Thursday, pricing shares at $20 apiece, near the top of its indicated range.
The California-based drone maker sold 16 million shares between $18 and $21 each.
Goldman Sachs, BofA Securities and Jefferies acted as joint bookrunners. AEVEX is set to begin trading on the New York Stock Exchange under the ticker “AVEX” on Friday.
Defence Spending Surge Lifts Demand
The listing comes amid heightened interest in defence-linked companies, as conflicts in Ukraine and the Middle East push governments to ramp up military budgets. Investors are increasingly viewing such firms as strategic hedges against global instability, and the group is attracting higher valuations as smaller companies …
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