Karman Holdings (filed under TCFIII Spaceco Holdings), which makes mission-critical systems for defense and space programs, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Currently doing business as Karman Space and Defense, the company specializes in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile & defense and space programs. Its integrated payload protection, propulsion, and interstage system solutions are deployed across a variety of programs supporting important Department of Defense and space sector initiatives. Karman's highly engineered solutions are organized into three key families: Payload Protection and Deployment Systems, Aerodynamic Interstage Systems, and Propulsion Systems. These solutions are deployed across three core end markets: Hypersonics & Strategic Missile Defense, Missile & Integrated Defense Systems, and Space & Launch.
The Huntington Beach, CA-based company was founded in 2020 and booked $331 million in revenue for the 12 months ended September 30, 2024. It plans to list on the NYSE under the symbol KRMN. Karman Holdings filed confidentially on October 22, 2024. Citi, Evercore ISI, RBC Capital Markets, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
