Applied Aerospace & Defense Launches Roadshow for IPO of 32.5 Million Shares

MT Newswires Live05-26 20:17

Applied Aerospace & Defense said Tuesday that it has initiated a roadshow for its proposed initial public offering of 32.5 million common shares expected to be priced at between $18 and $21 per share.

The aerospace and defense contractor said it will grant the underwriters a 30-day option to buy up to 4.875 million additional shares at the IPO price, minus underwriting discounts and commissions.

The company said it has applied to list on the New York Stock Exchange under the symbol AADX.

Net proceeds from the IPO will be used to repay certain debt and for other general corporate purposes, including working capital, operating expenses, and capital expenditures, the company said.

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