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HawkEye, a space analytics company, raises $416 Million in US IPO

HawkEye 360, a space?analytics company, raised $416 million in its U.S. IPO on Wednesday.

In the IPO Herndon, a Virginia-based company, sold 16 million shares at $26 each, giving it a value of approximately $2.42 billion. The firm had set a target price of $24-$26 per share.

HawkEye 360, Suja Life and other consumer brands are expected to 'test investor demand' for defense technology in the upcoming months.

HawkEye also will gauge the appetite for space-technology offerings as investors wait to see if SpaceX files a public filing that could boost confidence amongst peers in pursuing listings and tapping equity markets.

HawkEye, founded in 2015, provides data on signal intelligence to national security, defense and intelligence agencies. Satellites are used to detect, analyze and locate radio frequency emissions around the world.

HawkEye has more than 30 satellites. The U.S. Government and its allies account for the bulk of their revenue.

The?company acquired ISA in December, increasing its capabilities in classified intelligence systems and signal processing, while strengthening ties with U.S. agencies.

HawkEye will begin trading on the New York Stock Exchange on Thursday under the symbol "HAWK", with Goldman Sachs Morgan Stanley RBC Capital Markets Jefferies among its underwriters.

(source: Reuters)