Connecticut-based aerospace components manufacturer Arxis announced Wednesday it successfully completed its initial public stock offering, generating $1.13 billion by setting share prices at $28 each.
The Bloomfield company offered 40.5 million shares in an expanded public sale, pricing them at the highest end of their projected range between $25 and $28 per share.
This public debut reflects a broader trend of aerospace industry suppliers turning to stock markets for capital to finance growth and satisfy increasing orders from both commercial airline and military defense clients, as investor interest in industrial sector listings continues to remain robust.
Additionally, escalating global conflicts, particularly in Ukraine and the Middle East, have transformed the landscape for aerospace and defense equipment demand, as nations increase military expenditures and investors gravitate toward resilient industrial companies better positioned to weather international instability.
The company specializes in manufacturing electronic and mechanical parts including seals, gaskets, and metallized fabrics for aerospace and defense sectors, along with medical technology and specialized industrial applications.
Operating under private equity firm Arcline’s control, Arxis has grown significantly through more than 30 corporate acquisitions beginning in 2019, notably including its $1.8 billion acquisition of competitor Kaman during 2024.
Trading will commence Thursday on the Nasdaq exchange using the ticker symbol “ARXS.”
Goldman Sachs, Morgan Stanley, and Jefferies served as primary underwriters for the stock offering.
