Gate News message, April 17 — Military drone supplier Aevex (AVEX.US) priced its initial public offering at $20 per share, raising $320 million through the issuance of 16 million shares. The pricing falls within the previously announced range of $18 to $21 per share. Based on the IPO price, the company’s fully diluted market valuation stands at $2.2 billion. Aevex is scheduled to list on the New York Stock Exchange under the ticker symbol “AVEX” on Friday, April 18.
The company develops unmanned and autonomous systems for defense applications, with a focus on artificial intelligence-enabled aerial platforms designed for surveillance, reconnaissance, and precision strike missions. Its product portfolio includes loitering munitions and other unmanned systems engineered to operate in complex or GPS-denied environments, supported by proprietary software for navigation and sensor integration. Aevex primarily serves the U.S. government, which accounted for 78% of its 2025 revenue, as well as allied partners, generating income through the sale of systems and related services in its tactical and global solutions divisions.
The co-lead book managers for this offering are Goldman Sachs, Bank of America Securities, Jefferies Group, JPMorgan Chase, RBC Capital Markets, Baird, William Blair, Raymond James, and Needham & Company.
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