Applied Aerospace & Defense (AADX.US), a manufacturer of equipment and components for the aerospace and defense sectors, publicly filed an application for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) last Friday. The offering is expected to raise up to $350 million.
The company was formed in December 2025 through the merger of Applied Aerospace, founded in 1954, and PCX Aerosystems, founded in 1900. Applied Aerospace & Defense provides design, engineering, and manufacturing services for the space and defense industries, producing complex subsystems capable of operating in extreme environments. It primarily serves three key markets: space and launch systems; defense aviation and airborne systems; and C5ISR (command, control, communications, computers, cyber, intelligence, surveillance, and reconnaissance) and precision strike systems.
Leveraging a nationwide manufacturing network, the company's business encompasses the entire product lifecycle, from early-stage prototyping and new product development to full-scale production and aftermarket support. Its customer base includes both established prime contractors in the aerospace and defense sector and emerging technology companies.
Headquartered in Huntsville, Alabama, the company traces its origins to 1900, based on its oldest predecessor entity. For the twelve-month period ended March 31, 2026, the company reported revenue of $522 million.
Applied Aerospace & Defense plans to list on the New York Stock Exchange under the ticker symbol "AADX." The company had previously submitted a confidential draft registration statement on March 16, 2026.
The joint book-running managers for the offering are Morgan Stanley, Jefferies, BofA Securities, RBC Capital Markets, Guggenheim Securities, Baird, Stifel, WR Securities, and Nomura.
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