By KEVIN COSTELLOE
Defense company Karman Holdings Inc.(NYSE: KRMN) in Huntington Beach made its public trading debut today, surging 36% and raising $506 million.
The company, operating as Karman Space and Defense, develops payload protection and propulsion systems for defense and space programs for the Department of Defense and space sector initiatives.
Karman sold 23 million shares at $22 each, topping the anticipated $18 to $20 range. The sale places the company’s company at nearly $3 billion.
The shares closed at $30.05 apiece.
For further details, see the Feb. 24 print edition
