The drone manufacturer AEVEX announced on Thursday that it had raised $320 million in its initial public offering in the United States, after setting the share price at $20 each.
Based in Solana Beach, California, the company sold 16 million shares within the indicated price range of $18 to $21 each.
Defense-related companies are rushing to raise funds on the stock market, taking advantage of investors’ appetite sharpened by the conflict in the Middle East and the increase in defense spending.
Companies like AEVEX are now finding a more receptive audience among institutional investors seeking protection against global instability.
The war in Ukraine has highlighted the crucial role of unmanned systems, as warfare increasingly shifts towards drones. According to AEVEX’s prospectus, around 4 million drones were produced in Ukraine alone in 2025.
Shares of aerospace parts manufacturer Arxis.ARXS.O rose by 36% on their Nasdaq debut on Thursday.
AEVEX provides aerial intelligence, surveillance, and reconnaissance services to the U.S. government and its allied forces. The company’s defense portfolio includes unmanned systems capable of delivering ammunition, explosives, and guided strikes against targets.
Goldman Sachs, BofA Securities, and Jefferies are the operation’s lead underwriters. AEVEX will be listed on the New York Stock Exchange on Friday under the symbol “AVEX”.
