Industrial firm Arxis is seeking to raise over $1 billion in a U.S. IPO buoyed by soaring demand for defense and space components.
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$11.2B Market Value
The Connecticut-based firm plans to market 37.7 million shares for $25 to $28 each, raising $1.06 billion, according to a filing with the US Securities and Exchange Commission. If the top of the price range is reached, then the company would have a market value of $11.2 billion based on the outstanding shares listed in the filing.
Arxis, which is a leading designer and manufacturer of proprietary, mission-critical electronic and mechanical engineered components used in aerospace, defense, medical technology and specialized industrial markets, is backed by Arcline Investment Management.
The shares are expected to be listed on the Nasdaq Global Select Market under the symbol “ARXS.” Goldman Sachs (GS) & Co. LLC, Morgan Stanley (MS) and Jefferies (JEF) are acting as lead joint book-running managers for the proposed offering.
According to Bloomberg, the company had net income of roughly $46 million on revenue of $1.6 billion last year, compared with a net loss of $55 million on revenue of $743 million in 2024. Arxis has over 5,000 customers and generates about 90% of revenue from proprietary products, according to the filing.
Defense and Space Boost
It is being boosted by rising defense budgets as a result of conflicts around the world from Ukraine to Iran and the moves by countries such as the European partners of NATO to ramp up their security.
In the U.S., the Trump administration is expected to prioritize new contractors to modernize its defense stockpile such as missiles. The success of the Artemis II mission to the moon and increased investor interest in SpaceX is also likely to boost demand for space components.
Defense and space represent Arxis’s largest end market, accounting for approximately 47% of revenue in 2025, while its commercial aerospace segment accounts for about 23% of revenue in the same period, the filing shows.
Other industrial IPOs expected in New York this year include Aevex Aerospace and nuclear energy company Energy.
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