BUZZ-Applied Aerospace & Defense on track to open higher in debut after $650 million IPO

Applied Aerospace & Defense, Inc.

Applied Aerospace & Defense, Inc.

AADX

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** Applied Aerospace & Defense AADX.N on track to open above offer price in NYSE debut on Wednesday

** Stock recently indicated to open between $22 and $24 vs $20 offer price

** Huntsville, Alabama-based space and defense hardware provider sold 32.5 million shares within marketed range of $18 to $21 ​apiece to raise $650 million in IPO

** Middle-market-focused buyout firm Greenbriar Equity Group last year combined Applied Aerospace, founded in ​1954, and PCX Aerosystems, founded in 1900, to form Applied Aerospace & Defense

** Applied builds ​a wide range ​of products including ⁠fuselage, flight control surfaces, solid rocket motor cases and engine shafts for space and defense technology companies

** Morgan Stanley and Jefferies are serving as lead book-running managers for offering


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