The US military's PWSA project "largest supplier" topped the IPO at York Space Systems (YSS.US) with an issue price of $34 per share.

York Space Systems (YSS.US), a supplier of satellites and key mission systems for aerospace and defense projects, issued 18.5 million shares of stock at a price of $34 per share, raising $629 million. This price is at the upper end of the previously set price range of $30 to $34. The company had initially planned to issue 16 million shares. Based on this pricing, the company's fully diluted market value reaches $4.3 billion, 8% higher than expected. York Space Systems is a prime contractor in the aerospace and defense industry, providing design, manufacturing, integration, and operation services for spacecraft platforms. Its spacecraft product line includes the S-CLASS, LX-CLASS, and M-CLASS series. Based on the number of spacecraft in orbit (33), number of contracts (6), and variety of contract types, the company is the largest supplier for the U.S. Department of Defense's PWSA program. The company has completed 74 missions, accumulated over 4 million hours in orbit, and has 17 flight-proven products. It operates over 45 ground antennas globally. York Space Systems plans to list on the New York Stock Exchange under the ticker symbol YSS. Goldman Sachs Group, Inc., Jefferies Financial Group Inc., Fidelity Securities, JPMorgan, Citigroup, Truist Securities, Baird, and Raymond James are acting as joint book-runners for this transaction.