The drone manufacturer AEVEX announced on Thursday that it raised $320 million in its initial public offering in the United States, after setting the share price at $20 per share.
The Solana Beach, California-based company sold 16 million shares within the indicated price range of $18 to $21 per share.
Defense-related companies are rushing to raise funds in the stock markets, taking advantage of investors’ appetite sharpened by the conflict in the Middle East and rising defense spending.
Companies like AEVEX are now finding a more receptive audience among institutional investors looking for protection against global instability.
The war in Ukraine has highlighted the crucial role of unmanned systems, with warfare increasingly shifting 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% during their debut on the Nasdaq 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 lead underwriters for the operation. AEVEX will be listed on the New York Stock Exchange on Friday under the symbol “AVEX”.
