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AEVEX Corp. is a leading defense technology prime contractor specializing in unmanned systems (UxS) and intelligence, surveillance, and reconnaissance (ISR) solutions for U.S. Department of War (DoW), Special Operations Forces (SOF), Intelligence Community (IC), and allied partners. Through Tactical Systems (74.4% of 2025 revenue of $432.9 million) and Global Solutions segments, it designs autonomous UAS, USVs, and mission services, underpinned by proprietary AI CompassX software. With over 10,200 systems delivered/committed through 2026, a $503.1 million funded backlog (181% YoY growth), and $8.1 billion pipeline as of Dec 2025, AEVEX benefits from surging defense spending ($1T U.S. FY2026 request, triple-digit UAS/loitering munitions growth). The S-1 registers Class A common stock IPO with assumed $ million net proceeds (midpoint $ per share), used to acquire LLC Units in Holdings LLC, repay $ million Credit Agreement debt (9.92% rate), and general corporate purposes. Post-IPO, MDP controls ~% voting power, making it a controlled company. Investment thesis: Capture $11B U.S./$26B global UxS TAM by 2030 amid geopolitical tensions, validated by marquee programs (Phoenix Ghost, EUCOM AOR Deep Strike >$1.2B TCV), 98% pipeline growth, and production capacity (1,000+ UxS/month). Risks include U.S. Gov reliance (78% revenue), budget cuts, competition.
Offering Amount
$100.0M
Shares Offered
1,000
Share Type
Class A common stock
Exchange
NYSE
Ticker
AVEX
Use of Proceeds: AEVEX Corp. to acquire newly-issued LLC Units in Holdings LLC, purchase LLC Units and Class A common stock from equityholders; Holdings LLC to repay $ million Credit Agreement debt, pay offering expenses, general corporate purposes.
Leading defense technology prime contractor and critical enabler of U.S. Unmanned Aerial Systems dominance strategy missions, positioned as global leader in Unmanned Systems (UxS) with advanced autonomous, AI-enabled, attritable UxS for precision strike, loitering munitions, ISR.