Applied Aerospace and Defense raises $650 million in NYSE debut
Business
Applied Aerospace and Defense just kicked off its journey on the New York Stock Exchange, opening shares at $20.75, slightly above expectations, and landing a $3.54 billion valuation on day one.
The initial public offering brought in $650 million by selling 32.5 million shares, showing strong interest from investors.
Applied Aerospace supplies parts to SpaceX
Launched in 2025 after a merger, Applied Aerospace and Defense builds high-tech parts like rocket motor cases and engine shafts for big names such as SpaceX, Boeing, and Lockheed (SpaceX's Falcon 9 rockets even use their components!).
With more than 12 acquisitions since 2021, the company's rapid growth highlights how defense tech is catching attention as global tensions rise.