Applied Aerospace

Last updated: June 6, 2026
Ticker
AADX
Exchange
NYSE
IPO Date
Pending
Price Range
$18.00 - $21.00
Deal Size
$650 million
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Company Snapshot

Applied Aerospace is a company focused on providing advanced aerospace and defense solutions. Their business model revolves around securing government contracts and delivering high-quality engineering and technical services. The company's key value proposition lies in its ability to leverage strong relationships with government personnel to identify new business opportunities and maintain customer satisfaction.

Key Investors
Greenbriar Equity Capital (81.0%)

Per S-1 disclosure; % may not sum to 100% when ownership is nested, multi-class, or reported on different bases.

Key Financials

Metric20252024
Revenue$111.0M$399.8M
YoY Growth-72.2%-
Adjusted Net Loss-$17.0M-$34.8M
Margin %-15.3%-8.7%
Gross Margin
28%
EBITDA
$117.9M

Balance Sheet

Cash & Equivalents
$15.5M
Total Debt
$627.0M

Implied Valuation at Midpoint

Market Cap
$3.3B
P/S Ratio
30.0x

Based on price range midpoint and most recent fiscal year data.

S-1 Highlights

Market & Competition

The company operates within the aerospace and defense industry, competing with firms such as Lockheed Martin, Boeing, and Northrop Grumman. This sector is characterized by intense competition for skilled personnel and significant demand for advanced engineering capabilities.

Use of Proceeds

Proceeds from the IPO are expected to be utilized for general corporate purposes, which may include funding working capital, capital expenditures, and potential acquisitions.

Key Risk Factors

  • The company faces a significant risk of losing key personnel, which could adversely affect its ability to secure contracts and maintain customer relationships.
  • Increased competition for skilled employees and potential labor disruptions could negatively impact the company's operations and financial performance.

Deal Structure

Primary Shares
32,500,000 shares
Shares Outstanding
170,743,518 shares
Post-IPO Float
19.0%
Lock-up
No Lock-up Agreement
Lead Underwriters
Morgan Stanley, Jefferies, BofA Securities, RBC Capital Markets, Guggenheim Securities, Baird, Stifel, Wolfe | Nomura, Academy Securities

Reported Broker Availability

E*TRADEE*TRADE

Reported by users or publicly disclosed. Information is for reference only.

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