Karman Announces Pricing of its Initial Public Offering 
 
 
   PR Newswire 
 
 
   HUNTINGTON BEACH, Calif., Feb. 12, 2025 
 
 
   HUNTINGTON BEACH, Calif., Feb. 12, 2025 /PRNewswire/ -- Karman Holdings 
Inc. ("Karman" or the "Company"), a company specializing in the upfront 
design, testing, manufacturing, and sale of mission-critical systems for 
existing and emerging missile and defense, and space programs, today 
announced the pricing of its initial public offering of 23,000,000 
shares of its common stock at a public offering price of $22.00 per 
share (the "Common Stock"). The offering consists of 8,421,053 shares of 
Common Stock offered by Karman and 14,578,947 shares of Common Stock to 
be sold by certain of Karman's existing stockholders (the "Selling 
Stockholders"). Karman will not receive any proceeds from the sale of 
Common Stock by the Selling Stockholders. The shares of Karman's Common 
Stock are expected to begin trading on the New York Stock 
Exchange under the ticker symbol "KRMN" on February 13, 2025, and the 
offering is expected to close on February 14, 2025, subject to customary 
closing conditions. 
 
 
 
   In addition, certain of the Selling Stockholders have granted the 
underwriters a 30-day option to purchase up to an additional 3,450,000 
shares (solely to cover over allotments, if any) of its Common Stock at 
the initial public offering price, less underwriting discounts and 
commissions. Karman will not receive any proceeds from the sale of 
shares by the selling stockholder if the underwriters exercise their 
option to purchase additional shares of Common Stock. 
 
 
   Karman currently intends to use the net proceeds it receives from this 
offering, together with its existing cash, cash equivalents and 
short-term investments, for general corporate purposes, including 
additional development efforts, working capital and operating expenses. 
 
 
   Citigroup and Evercore ISI are acting as book-running managers for the 
proposed offering and as representatives of the underwriters for the 
proposed offering. RBC Capital Markets and William Blair are acting as 
joint bookrunners for the proposed offering. Baird is acting as 
co-manager for the proposed offering. 
 
 
   A registration statement relating to the Common Stock was declared 
effective by the U.S. Securities and Exchange Commission on February 12, 
2025. The offering is being made only by means of a prospectus. Copies 
of the prospectus relating to the offering may be obtained from: 
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, 
Edgewood, NY 11717, by telephone: (800) 831-9146 and Evercore Group 
L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th 
Floor, New York, New York 10055, by telephone: (888) 474-0200, or by 
email: ecm.prospectus@evercore.com. 
 
 
   This press release shall not constitute an offer to sell or a 
solicitation of an offer to buy the Common Stock, 
 nor shall there be any sale of the Common Stock 
in any state or jurisdiction in which such an offer, 
 solicitation or sale would be unlawful prior 
to registration or qualification under the securities laws of any such 
state or jurisdiction. 
 
 
   About Karman 
 
 
   We specialize in the upfront design, testing, manufacturing, and sale of 
mission-critical systems for existing and emerging missile and defense, 
and space programs. Our integrated payload protection, propulsion, and 
interstage system solutions are deployed across a wide variety of 
existing and emerging programs supporting important Department of 
Defense and space sector initiatives. 
 
 
   Forward-Looking Statements 
 
 
   The statements contained in this press release that are not historical 
facts are forward-looking statements. You can identify forward-looking 
statements because they contain words such as "believes," "expects," 
"may," "will," "should," "seeks," "intends," "plans," "estimates," or 
"anticipates," or similar expressions which concern our strategy, plans, 
projections or intentions. These forward-looking statements may be 
included throughout this press release, and include, but are not limited 
to, statements relating to Karman's expected gross proceeds from the 
initial public offering, the expected use of proceeds from such initial 
public offering, the expected date for Karman's Common Stock to begin 
trading on the NYSE and the expected closing of the initial public 
offering. By their nature, forward-looking statements are not statements 
of historical fact or guarantees of future performance and are subject 
to risks, uncertainties, assumptions or changes in circumstances that 
are difficult to predict or quantify. The Company's expectations, 
beliefs and projections are expressed in good faith and we believe there 
is a reasonable basis for them. However, there can be no assurance that 
management's expectations, beliefs and projections will result or be 
achieved and actual results may vary materially from what is expressed 
in or indicated by the forward-looking statements. Any forward-looking 
statement in this press release speaks only as of the date of this 
release. Karman undertakes no obligation to publicly update or review 
any forward-looking statement, whether as a result of new information, 
 future developments or otherwise, except as may be required by any 
applicable securities laws. 
 
 
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   SOURCE Karman Space & Defense 
 
     /CONTACT: Brenda Ramirez Brenda.Ramirez@karman-sd.com 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

February 13, 2025 05:30 ET (10:30 GMT)