Applied Aerospace & Defense Inc. entered public markets with a solid showing, as shares climbed roughly 3.75% in their first session of trading. The space and defense engineering firm raised $650 million through its initial public offering, pricing the shares near the upper end of its marketed range, signaling healthy investor appetite.

Pricing near the top of a range typically indicates that underwriters saw sufficient demand to push the offer higher. For a company operating in the space and defense engineering sector, that reception reflects broader market interest in aerospace-focused businesses, particularly those with government or military exposure.

The $650 million raise gives Applied Aerospace fresh capital to deploy toward operations, engineering capabilities, or contract pursuit. A modest first-day pop of under 4% suggests the pricing was largely disciplined, leaving less money on the table than more volatile debuts. Investors will now watch whether the stock can hold above its offer price in the sessions ahead.