HawkEye 360, a space analytics firm based in Herndon, Virginia, is targeting a valuation of up to $2.42 billion in its upcoming United States initial public offering (IPO). The company plans to raise as much as $416 million by offering 16 million shares, with an estimated price range of $24 to $26 per share.
Founded in 2015, HawkEye 360 specializes in geospatial analytics, providing space-based radio frequency (RF) intelligence and data services. Its primary revenue streams come from the U.S. government and allied nations. The company operates a satellite constellation that detects, geolocates, and analyzes global RF emissions. This technology is crucial for defense and intelligence agencies, supporting maritime domain awareness, threat detection, and the tracking of illicit activities through RF signal mapping.
Recently, HawkEye secured a NASA contract to supply its RFIQ data for space-to-space communications research, focusing on mapping RF interference in low Earth orbit to enhance secure communication channels for future missions. The firm also expanded its capabilities by acquiring ISA in December, strengthening its signal processing and intelligence systems and its ties with U.S. agencies.
HawkEye plans to list on the New York Stock Exchange under the symbol "HAWK". Goldman Sachs, Morgan Stanley, RBC Capital Markets, and Jefferies are among the lead underwriters for the offering. Entities affiliated with BlackRock are expected to hold a 5.1% stake in the company post-offering.