Deal Details

Karman Completes $1.2 Billion Follow-On Offering

Industrial
Technology & Services

Karman follow-on offering

Summary

Karman Space & Defense (“Karman”) (NYSE: KRMN), a portfolio company of Trive Capital Management LLC (“Trive”), recently completed the pricing of its upsized underwritten public offering of 24,150,000 shares of its common stock, including 3,150,000 shares sold pursuant to full exercise of the underwriters’ option to purchase additional shares, at a price of $49.00 per share (the “Offering”). The Offering consisted of 21,100,000 shares of common stock sold by certain of Karman’s existing stockholders (the "Selling Stockholders”) and 3,150,000 additional shares of common stock sold by the Selling Stockholders pursuant to the full exercise of the underwriters’ over-allotment option, generating approximately $1.2 billion in secondary gross proceeds. Karman will not receive any proceeds from the Offering.

Baird served as a bookrunner on this Offering.

About

Karman is a leader in the rapid design, development and production of critical, next-generation system solutions for launch vehicle, satellite, spacecraft, missile defense, hypersonic and UAS customers. Building on nearly 50 years of success, Karman delivers Payload & Protection Systems, Aerodynamic Interstage Systems and Propulsion & Launch Systems to more than 70 prime contractors supporting over 100 space and defense programs. Karman is headquartered in Huntington Beach, California.

Trive is a private equity firm with more than $8 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. Trive seeks to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas. The Trive team is comprised of seasoned investment professionals who have been involved in over 250 middle-market transactions representing in excess of $10 billion in revenue across Trive’s targeted industry sectors and situations. Trive is headquartered in Dallas, Texas.

Industrial
Technology & Services

Karman follow-on offering