Corporate ActionMay 20, 2026, 04:24 PM
AEVEX Completes IPO, Raises $345.9M; Q1 Net Income $21.0M
AI Summary
AEVEX Corp. completed its initial public offering on April 20, 2026, raising approximately $345.9 million by offering 18.4 million shares at $20.00 per share. The company also refinanced its credit facilities and adopted an Up-C structure with a Tax Receivable Agreement. For the three months ended March 31, 2026, its subsidiary Athena Technology Solutions Holdings, LLC reported a net income of $21.0 million, a significant improvement from a $27.3 million loss in the prior year, with total revenue increasing to $216.7 million.
Key Highlights
- Completed IPO on April 20, 2026, offering 18.4 million Class A common shares at $20.00 each.
- Generated net proceeds of approximately $345.9 million from the IPO.
- Refinanced prior credit facilities with new $100.0M Term Loan, $75.0M Delayed Draw, and $200.0M Revolving Credit Facilities.
- Repaid approximately $258.5 million of outstanding borrowings under prior credit facilities.
- Athena Technology Solutions Holdings, LLC Q1 2026 net income was $21.0 million, up from $(27.3) million loss YoY.
- Athena Technology Solutions Holdings, LLC Q1 2026 total revenue increased to $216.7 million from $53.3 million YoY.
- Adopted 2026 Omnibus Incentive Plan, reserving 11,404,170 Class A common shares.
- Implemented an Up-C structure and Tax Receivable Agreement, sharing 85% of tax savings.
Price Impact
More from AVEX