Karman Space & Defense (NYSE: KRMN) announced the pricing of its secondary offering of 14 million shares of common stock at $61 per share, according to a press release statement. The offering will generate approximately $854 million in gross proceeds for selling stockholders before deducting underwriting fees and expenses.

The offering size increased from the originally proposed 13.5 million shares. Selling stockholders granted underwriters a 30-day option to purchase up to an additional 2.1 million shares. Karman will not sell any shares in the offering and will not receive proceeds from the transaction.

Citigroup and Evercore ISI are serving as book-running managers for the offering. The transaction is expected to close on June 1, 2026, subject to customary closing conditions.

The shares are being sold under an effective automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. The company operates in the space and defense sector, providing system solutions for U.S. Department of Defense mission priorities and space access requirements.

Karman is headquartered in Huntington Beach, California, and maintains multiple facilities across the United States. The company delivers payload and protection systems, hydro/aerodynamic interstage systems, and propulsion and launch systems to more than 80 prime contractors supporting over 130 space and defense programs.