Overview
- HawkEye 360, which began trading Thursday under the ticker HAWK, jumped about 30% in its New York Stock Exchange debut as shares opened above the offer price.
- The company sold 16 million new shares at $26 each to raise roughly $416 million, a deal that implied about a $2.4 billion valuation at pricing.
- Proceeds will retire about $49.8 million of debt and cover a $7.5 million deferred payment tied to the December purchase of Innovative Signal Analysis, with the rest for working capital and growth.
- Underwriters received a 30-day option to buy up to 2.4 million more shares at the IPO price, with Goldman Sachs and Morgan Stanley leading a broader bank group.
- HawkEye 360 runs a 30-plus satellite network that tracks radio signals to supply intelligence to the U.S. government and allies, with 2025 revenue of $117.7 million and a funded backlog of $302.7 million reported in filings.