HawkEye 360 IPO raises $416 million, priced at $26 per share

HawkEye 360 priced its archetypal nationalist offering astatine $26 per stock Wednesday, raising $416 cardinal aft selling 16 cardinal shares astatine the apical of its marketed range, the institution said.

At $26 per share, the IPO puts HawkEye 360's full valuation astatine astir $2.4 billion, Bloomberg reported. The shares are acceptable to statesman trading Thursday connected the New York Stock Exchange nether the ticker awesome "HAWK."

The company, established successful 2015, has built and deployed a fleet of much than 30 satellites susceptible of detecting and geolocating vigor frequence emissions crossed the globe. The institution supplies signals quality information and analytics to U.S. defense, intelligence, and nationalist information agencies, arsenic good arsenic allied planetary governments. U.S. customers accounted for 61% of the company's gross successful 2025, with Japan accounting for 16% and different planetary customers making up the remainder, according to its regulatory filings.

According to its regulatory filings, HawkEye 360 brought successful $117.7 cardinal successful gross past year, astir doubling the $67.6 cardinal recorded successful 2024, and posted nett income of $48,000 aft losing $31.2 cardinal the twelvemonth before. The company's funded backlog ended 2025 astatine $302.7 million, a crisp summation from $44.1 cardinal 12 months prior.

Among the planned uses of the offering proceeds, HawkEye 360 said it volition discontinue astir $49.8 cardinal successful indebtedness and screen a $7.5 cardinal deferred work stemming from its acquisition of Innovative Signal Analysis past December, a steadfast specializing successful signal-processing technology. The remainder is earmarked for moving superior and wide firm purposes.

Goldman Sachs and Morgan Stanley are serving arsenic pb book-running managers for the offering, with RBC Capital Markets, Jefferies, and BofA Securities arsenic further book-running managers, the institution said.

HawkEye 360 has besides granted underwriters a 30-day enactment to acquisition up to an further 2.4 cardinal shares astatine the IPO price, which would bring full gross proceeds to astir $478.4 cardinal if exercised successful full.

The listing arrives during a agelong of enactment successful the defence exertion sector. Elsewhere successful the sector, Bloomberg noted that Arxis Inc., which supplies physics components to aerospace and defence customers, saw its banal leap 38% erstwhile it began trading aft an upsized $1.3 cardinal IPO this month. Aevex Corp., a shaper of subject drones, besides posted a beardown opening, with its shares rising 35% connected the archetypal time of trading aft a $368 cardinal IPO successful April.

As Quartz reported erstwhile HawkEye 360 filed its S-1 past month, the institution targets a terms scope that could make up to $416 million, with Goldman Sachs and Morgan Stanley starring the deal. The listing besides comes arsenic Elon Musk's SpaceX has confidentially filed for a U.S. IPO, a improvement that Renaissance Capital elder strategist Matt Kennedy said could promote different space-technology companies to prosecute listings, according to Reuters.