- HawkEye 360 priced its initial public offering at $26 per share.
- The company is targeting roughly $416 million through its NYSE debut.
- HawkEye 360’s shares climbed about 30 percent after trading began.
HawkEye 360 has priced its initial public offering at $26 per share, with the signals intelligence data and analytics company expecting to raise approximately $416 million in gross proceeds before underwriting discounts, commissions and other offering expenses.
The pricing follows HawkEye 360’s April 13 filing of a registration statement with the Securities and Exchange Commission for a proposed IPO of its common stock, the Herndon, Virginia-based company announced Wednesday.
What Are the Details of HawkEye 360’s IPO?
The offering consists of 16 million shares of common stock. HawkEye 360 has also given underwriters a 30-day option to buy up to 2.4 million additional shares at the IPO price, excluding underwriting discounts and commissions.
HawkEye 360 shares opened at $33.80 on the New York Stock Exchange on Thursday under the ticker symbol “HAWK,” up approximately 30 percent from its $26-per-share IPO price and giving the company an estimated market valuation of $3.15 billion.
Which Firms Are Managing the IPO?
Goldman Sachs & Co. and Morgan Stanley are the lead book-running managers for the offering. Additional book-running managers include RBC Capital Markets, Jefferies and BofA Securities. Baird, Raymond James and William Blair are also participating as bookrunners, while Drexel Hamilton is serving as co-manager.
What Is HawkEye 360?
HawkEye 360 operates a constellation of more than 30 satellites that deliver signals intelligence data and analytics to defense, intelligence and national security customers. The company was recently selected for the potential 10-year, $151 billion Scalable Homeland Innovative Enterprise Layered Defense contract vehicle, positioning it to support advanced homeland security and defense missions. It also strengthened its expertise in signal processing and classified intelligence systems through its December acquisition of Innovative Signal Analysis.
