Military drone supplier Aevex (AVEX.US) IPO priced at $20 per share, will debut tonight on the New York Stock Exchange.

Military drone supplier Aevex (AVEX.US) issued 16 million shares of stock at a price of $20 per share, raising $320 million. This pricing is within the previously announced range of $18 to $21. Based on the issuance price, the company's fully diluted market value is $2.2 billion. Aevex will be listed on the New York Stock Exchange on Friday under the ticker symbol "AVEX". The company develops unmanned aerial vehicles and autonomous systems for defense applications, with a focus on AI-supported aviation platforms used for surveillance, reconnaissance, and precision strike missions. Its products include loitering munitions and other unmanned systems designed to operate in complex or GPS-denied environments, supported by patented software for navigation and sensor integration. The company primarily serves the U.S. government (accounting for 78% of revenue in 2025) and allies, generating income through the sale of systems and related services in its Tactical and Global Solutions divisions. The joint book-runners for this issuance are Goldman Sachs Group, Inc., Bank of America Corp Securities, Jefferies Financial Group Inc., J.P. Morgan, Royal Bank of Canada Capital Markets, Barclays, William Blair, Raymond James, and Needham & Company.