Intelligence group HawkEye 360 has become the latest U.S. defense and space firm to take advantage of new global security concerns to launch a potential $2.4 billion IPO.
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Raising More Money Than Expected
The company, which provides satellite-based signals intelligence for U.S. government agencies, is looking to raise $416 million in an IPO. It is aiming to market 16 million shares priced at between $24 and $26 each, according to its filing with the U.S. Securities and Exchange Commission. That means it could be valued at $2.4 billion.
This is markedly above previous reports, which stated that the company was looking to raise $100 million in the listing and could be valued at around $1 billion.
HawkEye 360 intends to list its common stock on the New York Stock Exchange under the ticker symbol “HAWK.” Goldman Sachs (GS) and Morgan Stanley (MS) are acting as lead book-running managers for the offering.
What Does HawkEye Do?
- The geospatial analytics company detects, characterizes, and geolocates radio frequency intelligence emissions for a range of defense, intelligence and national security clients. Its technology stretches across a range of sectors from air defense to maritime intelligence.
- It has a constellation of more than thirty satellites orbiting about 500 km above the Earth. They operate in clusters of three and can collect signal data anywhere around the globe.
Most recently in March, it announced the successful launch and initial contact with its Cluster 14 satellites, deployed aboard SpaceX’s Falcon 9 rocket as part of the Transporter-16 rideshare mission. The company’s revenue jumped to $117.7 million in 2025, up from $67.6 million a year earlier, while net income rose to $48,000 from a net loss of $31.2 million.
It is the latest defense and space-related company to announce an IPO, arguably driven by the security threats revealed during the Iran war and the increase in interest in space from the Artemis II moon mission.
Defense and space firm Arxis (ARXS) recently raised $1.13 billion in a U.S. IPO driven by demand for its aerospace, defense and space components. Drone maker Aevex (AVEX) raised $320 million in its New York IPO.
What Other IPOs are on the Way?
Let’s look at what other IPOs are on the way with our TipRanks IPO calendar.
