Aerospace and defense supplier Arxis targets up to $1.06B in US IPO, aiming to capitalize on rising demand for electronic and mechanical components across global defense markets

$1.59B revenue but only $46M net income — sub-3% margins for a defense components roll-up that didn't exist as a standalone entity until October 2025. Arcline bought Kaman for $1.8B in 2024, carved out Arxis six months later, and now wants public markets to price it at up to $1.06B while dual-class shares keep all governance power with the sponsor. Anyone who's watched VC-backed token launches knows exactly how this plays out for late-entry liquidity providers.

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