York Space Systems IPO: Shares of Pentagon space contractor begin trading

Preliminary trading in shares of aerospace company York Space Systems, specializing in the development and production of small satellites for defense and commercial customers, started in the trading system for Freedom customers. York Space Systems is one of the U.S. government's primary contractors in the space and defense industries, Bloomberg notes. The company designs, manufactures, integrates and operates spacecraft. York Space Systems securities will appear on the New York Stock Exchange under the ticker YSS later on Jan. 29. Click on the YSS ticker to participate.

York Space Systems has successfully raised $629 million in an expanded IPO in the US. The company placed 18.5 million shares at $34 per paper - which corresponds to the upper limit of the previously announced price range (from $30 to $34 per share). Based on the listing price, York Space Systems' market capitalization was about $4.3 billion, Bloomberg calculated.

The lead organizers of the IPO were Goldman Sachs, Jefferies and Wells Fargo, writes Business Wire.

York Space Systems is backed by investment fund AE Industrial Partners. It is expected that after the IPO it will reduce its stake in York Space Systems to 24%, while probably retaining control over the majority of voting shares, Bloomberg wrote. In April 2025, the fund had already considered selling its stake in York Space in a deal that could have valued the business at more than $2 billion. However, in the end, AE Industrial Partners decided to retain control of the asset, betting on the York Space IPO.

Founded in 2012 by Dirk Wallinger, York Space develops and operates spacecraft and satellites for government and commercial customers. The company's clients include the Pentagon, the U.S. Air Force and the Space Systems Development Agency, Bloomberg reported. Since 2012, York Space has completed 74 missions and accumulated more than 4 million hours in orbit, the agency reports.

The company's line of spacecraft includes S-CLASS, LX-CLASS and M-CLASS satellite platforms designed for orbital missions of varying complexity and power, according to the company's website. York Space is also the largest contractor for the U.S. Department of Defense's Proliferated Warfighter Space Architecture (PWSA) program, an initiative to create a distributed orbital satellite network for national security needs. The company is the leader in terms of the number of satellites in orbit (33), as well as the range of work - from satellite development and manufacturing to launch and operation, according to Renaissance Capital. The company also operates more than 45 ground antennas as part of its global satellite communications network. York Space Systems is headquartered in Denver.

According to offering materials the company filed with the SEC in mid-January, for the nine months ended Sept. 30, 2025, York Space posted a comprehensive loss of $54.9 million on revenue of $280.9 million. A year earlier for the same period, the comprehensive loss was $73.1 million on revenue of $176.9 million.

York Space Systems' potential listing comes amid increased initial public offering activity in the space and defense sectors, helped by growing competition among countries, including the U.S., Bloomberg writes.

Several companies in the sector went public last year, with mixed results. The offering of aerospace components manufacturer Karman Holdings in February last year allowed the company to raise $582 mln, and its shares have risen by almost 400% since then. At the same time, the securities of the developer of launch vehicles and satellites Firefly Aerospace fell by more than a third after the IPO in August last year. The company raised $999 mln during the IPO.

The U.S. government has increased its dependence on private space companies for launching launch vehicles, satellite programs and space exploration, Reuters notes. This is indicated by U.S. President Donald Trump's executive order Ensuring American Space Superiority (Ensuring American Space Superiority) of December 2025. It calls on government agencies to prioritize commercial launch services, accelerate procurement procedures and integrate private companies into national security space systems, the agency notes.

"Trump's executive order creates a potentially stronger demand signal [for private space companies' services] and actually backs it up with financial resources in a market that is already generating revenue," Reuters quoted Michael Ashley Shulman, partner at Running Point Capital Advisors, as saying. The analyst also added that "a potential SpaceX IPO later this year would have a much more significant impact on the market, and the public debut of York Space Systems could be a prologue to that hype."

_______________________

Freedom clients will be able to get access to York Space Systems shares before the opening of the main exchange session. Trading will begin in the early pre-market format 2-3 hours before the U.S. exchanges open (from 15:30-16:30 Astana time). To participate, click on ticker YSS.

This article was AI-translated and verified by a human editor