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The Economic Times
The Economic Times

Applied Aerospace & Defense valued at $3.5 billion as shares rise in NYSE debut

Applied SpaceX

Applied ​Aerospace & Defense achieved a valuation ​of $3.54 billion after its shares opened 3.8% above ​the offer price in their New York Stock Exchange debut on Wednesday, setting the tone for a busy week of initial public offerings.

The stock ‌opened at $20.75 ⁠apiece, ⁠compared with the offer price of $20. The Huntsville, Alabama-based space and defense hardware ​provider raised $650 million in the IPO by selling 32.5 million shares within ​the marketed range of $18 to $21 apiece.

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