York Space raises $629 million in upsized US IPO

Jan 28 (Reuters) - York Space Systems priced its upsized U.S. initial public offering at the top of its indicated range, raising $629 million on Wednesday, the satellite company said.

The Denver, Colorado-based company sold 18.5 million shares in the offering at $34 apiece, compared with its marketed range of between $30 and $34 per share.

Steadier markets and multiple Federal Reserve rate cuts in the second half of 2025 have drawn companies from across sectors back to New York's IPO market.

Founded in 2012 by Dirk Wallinger, York Space offers low-cost satellite platforms and counts the Pentagon and other commercial entities among its clients.

The U.S. government has increased its reliance on private space companies such as York to secure satellites for defense applications at a pace.

Investors are also eying continued funding for the sector as the Trump administration designates space a core national security and economic priority.

York was valued at over $1 billion in a majority stake sale to aerospace-focused buyout firm AE Industrial Partners in October 2022, Reuters has previously reported.

The company's offering comes as investors gear up for several high-profile listings expected in 2026, including a potential IPO of Elon Musk's SpaceX.

Goldman Sachs, Jefferies, and Wells Fargo Securities are the lead book-running managers for York's offering. The company is expected to list on the NYSE under the ticker "YSS" on Thursday.