Karman Announces Closing of its Upsized Initial Public Offering, with Full Exercise of Over-Allotment Option

HUNTINGTON BEACH, Calif., Feb. 14, 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 closing of its initial public offering of 26,450,000 shares of its common stock at a public offering price of $22.00 per share (the "Common Stock"). The offering consisted of 8,421,053 shares of Common Stock offered by Karman, 14,578,947 shares of Common Stock sold by certain of Karman's existing stockholders (the "Selling Stockholders"), and 3,450,000 additional shares of Common Stock sold by certain Selling Stockholders pursuant to the full exercise of the underwriters' over-allotment option. Karman will not receive any proceeds from the sale of Common Stock by the Selling Stockholders.

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 offering and as representatives of the underwriters for the offering. RBC Capital Markets and William Blair are acting as joint bookrunners for the offering. Baird is acting as co-manager for the 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: [email protected].

A registration statement on Form S-1 (Registration No. 333-284382) relating to the Common Stock was filed with the Securities and Exchange Commission and became effective on February 12, 2025.

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.

SOURCE Karman Space & Defense