April 27 (Reuters) - HawkEye 360 is targeting a valuation of up to $2.42 billion in its initial public offering in the United States, the space analytics company said on Monday, as it looks to capitalize on a rebound in the listings market.
The Herndon, Virginia-based firm is seeking to raise up to $416 million by offering 16 million shares priced between $24 and $26 apiece.
The IPO market has regained momentum with several big names announcing their intention to list their shares in New York, after the first few months of 2026 saw volatile equity markets and escalations in the Middle East.
Elon Musk's SpaceX confidentially filed for a U.S. initial public offering earlier this month, opening the door for more companies to tap public markets and giving space-technology firms a confidence boost to move ahead with their listing plans.
"Clearly the IPO market is open to the aerospace and defense industry, and HawkEye 360 is looking to take advantage of that," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs.
"I can imagine space-tech CFOs telling themselves: If it's a good enough time for SpaceX, it's good enough for us."
HawkEye 360, founded in 2015, is a geospatial analytics company that provides space-based radio frequency (RF) intelligence and data services. The U.S. government and allied nations account for the bulk of its revenue.
The company operates a constellation of satellites that detect, geolocate and analyze radio frequency emissions globally.
HawkEye secured a NASA contract earlier in the month to provide its RFIQ data for space-to-space communications research. The satellite analytics firm will map radio frequency interference in low Earth orbit, helping NASA develop secure communication channels for future commercial missions.
HawkEye plans to list on the New York Stock Exchange under the symbol "HAWK", with Goldman Sachs, Morgan Stanley, RBC Capital Markets and Jefferies among the underwriters.
Entities affiliated with BlackRock will hold 5.1% shares in the company after the offering.
Reporting by Utkarsh Shetti and Pritam Biswas in Bengaluru; Editing by Shailesh Kuber
Source: Reuters