Karman Announces Filing of Registration Statement for Proposed Initial Public Offering

HUNTINGTON BEACH, Calif., Jan. 21, 2025 /PRNewswire/ -- TCFIII Spaceco Holdings LLC (d/b/a) Karman Space and Defense ("Karman" or the "Company"), a company specializing in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs, announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed initial public offering of shares of its common stock (the "Common Stock"). Certain of Karman's existing stockholders identified in the registration statement are also expected to sell shares of Common Stock in the proposed offering. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size, price or other terms of the offering.

Karman has applied to list its Common Stock on the New York Stock Exchange under the ticker symbol "KRMN."

Citigroup and Evercore ISI are acting as book-running managers for the proposed offering and as representatives of the underwriters for the proposed offering. RBC Capital Markets and William Blair are acting as joint bookrunners for the proposed offering. Baird is acting as co-manager for the proposed offering.

The proposed offering will be made only by means of a prospectus. Once available, a copy of the preliminary prospectus relating to the proposed offering may be obtained from: Citigroup , c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone: (800) 831-9146 and Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone: (888) 474-0200, or by email: [email protected].

A registration statement relating to the Common Stock has been filed with the SEC but has not yet become effective. The Common Stock may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Common Stock, nor shall there be any sale of the Common Stock in any state or  jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Karman Space & Defense

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense and space sector initiatives.

Forward-Looking Statements

The statements contained in this press release that are not historical facts, including statements relating to Karman's expectations regarding the commencement, completion, timing and size of its proposed public offering and listing, are forward- looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," or "anticipates," or similar expressions which concern our strategy, plans, or intentions. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Our expectations and beliefs are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations and beliefs will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. Karman undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

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SOURCE Karman Space & Defense