Karman Holdings Inc. filings document the company’s public-company disclosures as a NYSE-listed space and defense systems manufacturer. Recent Form 8-K reports cover operating results, financial guidance, credit agreement amendments, direct financial obligations, completed acquisition financing, and executive leadership succession. The filings also identify KRMN common stock as registered under the Exchange Act and listed on the New York Stock Exchange.
Proxy and governance filings describe annual meeting procedures, director elections, stockholder voting results, and board-class terms. Other regulatory records include a Form 12b-25 notification related to the timing of the company’s annual report and disclosures concerning preparation and audit procedures for consolidated financial statements.
Karman Holdings Inc. notified the SEC on a Form 12b-25 that it cannot timely file its Form 10-K for the period ended December 31, 2025 because additional time is needed to complete audit procedures. The company states it anticipates filing within the 15-calendar-day extension and does not expect material changes to the financial information disclosed in its Form 8-K filed March 25, 2026.
Karman Holdings Inc disclosure: The Vanguard Group filed an amended Schedule 13G/A reporting zero shares beneficially owned of Karman Holdings Inc common stock and 0% ownership. The filing states Vanguard underwent an internal realignment on January 12, 2026 and will report certain subsidiaries separately, citing SEC Release No. 34-39538 (January 12, 1998). The amendment is signed by Ashley Grim on March 27, 2026.
Karman Holdings Inc. reported record fourth quarter and full-year 2025 results driven by strong growth across hypersonics, space and tactical missile markets. Revenue reached $134.5M in Q4, up 47.4% year over year, with net income of $7.7M, up 358%. Non-GAAP adjusted EBITDA for the quarter was $42.0M, up 59%, and backlog ended 2025 at $801.1M, up 38.2%.
For 2025, revenue rose to $471.5M, a 36.6% increase, while net income grew to $17.4M and adjusted EBITDA to $145.3M, both up roughly 37%. The company completed a $581M IPO, a $1.2B non-dilutive secondary equity offering and several acquisitions, and it raised its 2026 outlook to $715–$730M in revenue and $207–$218M in adjusted EBITDA.
Karman Holdings Inc. amended its main credit agreement by entering into a Fourth Amendment with Citibank and other lenders. The amendment increases the company’s revolving credit commitments by $100,000,000, bringing total revolving commitments to $150,000,000, and removes the prior $50,000,000 cap on incremental revolving credit commitments.
Karman Holdings Inc. is implementing a planned CEO transition, with long-time Chief Executive Officer Tony Koblinski retiring from the role on March 23, 2026 and remaining on the board. The board has appointed veteran defense executive Jonathan “Jon” Rambeau as the new CEO, bringing more than 30 years of experience at L3Harris and Lockheed Martin.
Rambeau’s employment agreement provides an annual base salary of $975,000, a target annual cash bonus equal to 150% of salary, and 2026 equity awards targeting at least $7,000,000. He will also receive a one-time RSU grant valued at $6,500,000 that vests after three years, plus customary severance protections, non-compete and non-interference covenants, and an indemnification agreement.
KHIS Custodian LP filed an amended Schedule 13G reporting its beneficial ownership of Karman Holdings Inc. common stock. The firm may be deemed to share voting and dispositive power over 3,942,428 shares, representing 3.0% of the class, based on 132,322,435 shares outstanding as of October 30, 2025.
The filing explains that on July 25, 2025, the predecessor entity Spaceco sold or distributed all its Karman shares to Trive Capital funds, which then distributed them in-kind to their partners. Some partners asked Spaceco, now KHIS Custodian, to continue managing their shares and some had not moved shares into their own accounts, leading to KHIS Custodian’s reported voting and dispositive power. The filing notes KHIS Custodian has no pecuniary interest in the shares, and related Trive entities and managers disclaim beneficial ownership of stock held by KHIS Custodian LP.
Karman Holdings Inc. amended its Credit Agreement and completed a significant acquisition. The company refinanced existing term loans totaling $502,800,000, cutting the interest rate by 75 basis points to SOFR plus 2.75%, and lowered pricing on its revolving credit facility by the same 75 basis points, with the highest leverage tier now at SOFR plus 2.50%.
After refinancing, Karman increased its term loans by $265,000,000 for total term loan principal of $767,800,000. It used the additional borrowing to fund the acquisition of Seemann Composites, LLC and Materials Sciences LLC for $210,000,000.00 in cash plus shares of its common stock valued at $10,000,000.00, as well as to bolster working capital, liquidity and pay related transaction costs. Management expects the Seemann and MSC businesses to be immediately accretive in 2026 to revenue growth, funded backlog, EBITDA, earnings per share and cash flow, and has created a new “Maritime Defense Systems” end market around these assets.
The Vanguard Group filed a Schedule 13G reporting a passive ownership stake in Karman Holdings Inc. common stock. Vanguard reports beneficial ownership of 9,342,230 shares, representing 7.06% of the outstanding common stock.
Vanguard has shared voting power over 580,575 shares and shared dispositive power over all 9,342,230 shares, with no sole voting or dispositive power. The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Karman Holdings.
The filing also notes an internal realignment at Vanguard on January 12, 2026, after which certain subsidiaries are expected to report beneficial ownership separately while continuing the same investment strategies.
Karman Holdings Inc. filed a current report describing that it has issued a press release with updated financial guidance for fiscal years 2025 and 2026, accompanied by an investor webcast presentation. These materials are furnished as Exhibits 99.1 and 99.2 and are not treated as filed for liability purposes under the Exchange Act.
The company includes extensive cautionary language that its guidance and other forward-looking statements depend on assumptions and are subject to significant risks. It highlights uncertainties around closing and integrating the Seemann and MSC acquisitions, its reliance on U.S. military contracts and the federal defense budget, exposure to competitive government bidding, regulatory and legal compliance, protection of intellectual property, and its ongoing acquisition strategy.
Karman Holdings Inc. has agreed to acquire Seemann Composites, LLC and Materials Sciences LLC through a wholly owned subsidiary. Under a Securities Purchase Agreement signed on December 31, 2025, the company will pay $210,000,000 in cash and issue shares of its common stock with an aggregate value of $10,000,000, with the final amount subject to customary purchase price adjustments. The deal will close only after customary closing conditions are met, including expiration or termination of any required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Karman describes the agreement as including customary representations, warranties and covenants between the parties.