Karman Line Acquisition Corp. has priced its initial public offering on the Nasdaq at $200 million, according to a regulatory filing.
The blank-check company, which focuses on mergers and acquisitions in the aerospace and defense sectors, offered 20 million units at $10 each. Each unit consists of one share of common stock and one-half of one redeemable warrant.
Proceeds from the IPO will be used to fund future business combinations and for working capital, the filing stated. The underwriters, led by Citigroup, Goldman Sachs and Morgan Stanley, have a 30-day option to purchase up to an additional 3 million units to cover overallotments.
Karman Line Acquisition follows a wave of special purpose acquisition companies targeting high-growth industries amid volatile market conditions. The firm’s focus on aerospace and defense aligns with broader investor interest in defense contractors amid geopolitical tensions and increased military spending.
Shares are expected to begin trading on the Nasdaq under the ticker KLACU on [date].
