Aerospace parts maker Arxis raises $1.13 billion in US IPO

April 15 (Reuters) - Aerospace ‌parts maker ​Arxis ​said on Wednesday it raised $1.13 billion in its U.S. initial public offering after ‌pricing shares at $28 each.

The Bloomfield, Connecticut-based company sold ⁠40.5 million shares in the upsized offering at the ‌top-end of its indicated ‌price range of between $25 and $28 apiece.

The listing comes as aerospace suppliers tap equity markets to ​fund expansion and meet rising demand from commercial aviation and defense customers, with investor appetite ⁠for industrial listings remaining strong.

Meanwhile, heightened geopolitical tensions, including conflicts in ​the Middle East and Ukraine, have reshaped demand for aerospace and defense equipment, as ​countries boost military spending and ‌investors turn to defensible industrial names that can better withstand the effects ⁠of the conflicts.

Arxis makes electronic and mechanical components such as seals, gaskets and metallized fabrics for aerospace and ⁠defense, medical technology and specialized industrial markets.

Under buyout firm ​Arcline's ownership, Arxis has expanded through over 30 acquisitions since 2019, including the $1.8 billion purchase of rival Kaman in ‌2024.

The stock will begin trading on the Nasdaq on Thursday, under the ticker ‌symbol "ARXS".

Goldman Sachs, Morgan Stanley and Jefferies are the ⁠lead underwriters of ‌the offering.

(Reporting by ​Manya Saini in Bengaluru and Natalia Bueno Rebolledo in Mexico City; Editing by Sonia ‌Cheema)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Electra Therapeutics files for proposed IPO
• Nepal resumes flood rescue, seeks technical help and billions of dollars
• War weighs on Iran's economy as US intensifies sanctions