L3Harris Technologies (LHX) said Thursday that it has completed a $1 billion investment from the US Department of Defense for its Missile Solutions division.
The government investment involves convertible preferred securities that will transition into common equity following a planned initial public offering of the business during H2, the company said.
L3Harris Technologies said it plans to use the capital to upgrade solid rocket motor manufacturing plants across Arkansas, Alabama, and Virginia while accelerating research operations.
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