Geospatial analytics company HawkEye 360 has filed for an IPO in New York that could value it at around $1 billion.
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HawkEye Files for IPO
HawkEye 360 said today that it had filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common stock.
HawkEye will list on the New York Stock Exchange under the symbol “HAWK.” Goldman Sachs (GS), Morgan Stanley (MS), RBC Capital Markets and Jefferies (JEF) are among the underwriters for the offering. The number of shares to be offered and the price range for the proposed offering have not yet been determined.
However, according to reports, the company is looking to raise $100 million in the listing and could be valued at around $1 billion.
Defense and Security Clients
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 recently announced selection by a European Ministry of Defense for an electronic warfare program valued at up to $75 million. The award, it said, reflected sustained European investment in space-based electronic warfare capability to support defense planning and long-term operational awareness.
It also recently said the U.S. Navy had renewed its contract with the company for a fourth consecutive year under the Indo-Pacific Partnership for Maritime Domain Awareness (IPMDA) initiative. The $98.8 million contract extended the U.S. Navy’s access to HawkEye 360’s commercial radio frequency (RF) data and analytics for vessel detection and monitoring over key areas of interest throughout the Pacific.
Space Satellite Cluster
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.
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. This includes industrial firm Arxis, which is also seeking to raise over $1 billion in a U.S. IPO.
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