Applied Aerospace & Defense, Inc. Announces Launch of Initial Public Offering

Rhea-AI Summary

Applied Aerospace & Defense (NYSE:AADX) launched the roadshow for a proposed IPO of 32,500,000 common shares at an expected price range of $18.00–$21.00 per share. Underwriters may receive a 30‑day option for up to 4,875,000 additional shares.

According to Applied, net proceeds are intended for repayment of certain debt and general corporate purposes, including working capital, operating expenses and capital expenditures. The company has applied to list on the NYSE under ticker AADX; the registration statement is filed but not yet effective.

Positive

• Proposed IPO of 32,500,000 common shares at $18–$21 range
• Additional 4,875,000-share underwriter option for potential expanded capital raise
• Planned NYSE listing under ticker AADX to enhance market visibility
• Stated use of proceeds includes repayment of certain indebtedness
• Remaining proceeds earmarked for working capital, operating expenses and capex

Negative

• Large primary issuance of up to 37,375,000 shares including underwriter option
• IPO remains subject to SEC effectiveness and market conditions before completion

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HUNTSVILLE, Ala., May 26, 2026 /PRNewswire/ -- Applied Aerospace & Defense, Inc., an advanced manufacturer of mission critical systems for space and defense ("Applied," "we," or the "Company"), today announced that it has launched the roadshow for its proposed initial public offering of 32,500,000 shares of its common stock, par value $0.01 per share, at an anticipated initial offering price between $18.00 and $21.00 per share pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the "SEC"). In addition, Applied intends to grant the underwriters a 30-day option to purchase up to an additional 4,875,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The Company has applied to list its common stock on the New York Stock Exchange under the ticker symbol "AADX."

Applied intends to use the net proceeds from the proposed offering for repayment of certain indebtedness and for other general corporate purposes, including working capital, operating expenses and capital expenditures.

Morgan Stanley and Jefferies are serving as lead book-running managers for the proposed offering. BofA Securities, RBC Capital Markets and Guggenheim Securities are serving as book-running managers for the proposed offering. Baird, Stifel and Wolfe | Nomura Alliance are serving as bookrunners for the proposed offering. Academy Securities is serving as co-manager for the proposed offering.

The proposed offering will be made only by means of a prospectus. When available, a copy of the preliminary prospectus related to the proposed offering may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, when available, a copy of the preliminary prospectus related to the proposed offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, New York 10014; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email at dg.prospectus_requests@bofa.com; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8^th Floor, New York, New York 10281, by telephone at (877) 822-4089, or by email at equityprospectus@rbccm.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Applied Aerospace & Defense, Inc.

Applied Aerospace & Defense is a premier provider of advanced design, engineering, and vertically integrated manufacturing solutions for leading and next-generation space and defense technology companies. Applied builds complex hardware for extreme operating environments and is focused on three core markets: Space and Launch Systems, Defense Aviation and Airborne Systems, and C5ISR and Precision Strike Systems. With decades of space and defense manufacturing heritage, Applied combines deep material science and IP-enabled process expertise with the ability to enable rapid prototyping, enhance new product development, and responsively scale production. Across its nationwide infrastructure of advanced manufacturing facilities, Applied continuously supports a balanced mix of next-generation technology and platform development, large scale production programs, and aftermarket sustainment for enduring platforms.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the Company's initial public offering and the intended use of proceeds. These statements are not historical facts but rather are based on the Company's current expectations and projections regarding its business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those in the Company's registration statement filed with the SEC.

Contacts:

David Myers, SVP, Marketing & Strategy
David.Myers@applied-aerospace.com

Investor Relations
Applied@icrinc.com

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SOURCE Applied Aerospace & Defense

FAQ

What are the key details of the Applied Aerospace & Defense (AADX) IPO?

Applied Aerospace & Defense plans an IPO of 32,500,000 common shares at an expected price range of $18–$21 per share. According to Applied, the company has also applied to list on the New York Stock Exchange under the ticker symbol AADX.

How many shares are included in the Applied Aerospace & Defense AADX IPO over-allotment option?

Applied Aerospace & Defense intends to grant underwriters a 30-day option to buy up to 4,875,000 additional shares at the IPO price, less discounts. According to Applied, this option would be in addition to the 32,500,000 base shares offered.

What will Applied Aerospace & Defense use the AADX IPO proceeds for?

Applied Aerospace & Defense intends to use net IPO proceeds to repay certain indebtedness and for general corporate purposes. According to Applied, these purposes include working capital, operating expenses and capital expenditures to support the company’s space and defense systems business.

On which exchange will Applied Aerospace & Defense AADX shares be listed?

Applied Aerospace & Defense has applied to list its common stock on the New York Stock Exchange under ticker AADX. According to Applied, listing will occur only after the SEC registration becomes effective and the proposed initial public offering is successfully completed.

What is the expected price range for the Applied Aerospace & Defense (AADX) IPO?

The proposed Applied Aerospace & Defense IPO targets an anticipated initial offering price between $18.00 and $21.00 per share. According to Applied, this range applies to the 32,500,000 common shares included in the proposed initial public offering.

Is the Applied Aerospace & Defense AADX IPO already effective with the SEC?

The AADX IPO registration statement has been filed with the SEC but is not yet effective. According to Applied, no securities may be sold, and no offers accepted, until the registration statement becomes effective under applicable securities laws.