Overview
- AVEX, which jumped roughly 35% in its NYSE debut Friday, added gains Monday and rose about 13% Tuesday to $37.67 as interest stayed high in defense tech stocks.
- Aevex raised $320 million by selling 16 million shares at $20, and the deal includes a 30-day option for underwriters to buy up to 2.4 million more shares that can add to early trading swings.
- The company builds uncrewed aircraft and surface vehicles, intelligence and surveillance systems, and autonomy software for the U.S. military, the intelligence community, and allied partners.
- Aevex says it will use IPO proceeds to acquire 16 million shares of Athena Technology Solutions Holdings, and Jim Cramer said the company is also using much of the cash to pay down debt.
- Bullish coverage is feeding momentum, with Cramer calling the stock too cheap and a Seeking Alpha analysis pointing to a $503.1 million backlog and $8.1 billion in identified opportunities alongside aggressive growth forecasts.