Virginia‑based Hawkeye 360 went public on the NYSE Thursday, pricing its IPO at the top of the indicated range. The company sold 16 million shares for $26 each, pulling in $416 million. Trading under the ticker HAWK, the offering values the satellite‑signals‑intelligence firm at roughly $2.4 billion. The pricing makes it a defense‑tech IPO this year.

Founded in 2015, Hawkeye 360 operates a 30‑satellite constellation that intercepts radar, jammer and satellite‑phone emissions for U.S. defense customers. 2025 revenue jumped to $117.7 million, up from $67.6 million a year earlier, while net income turned positive at $48,000. Backlog surged sixfold to $303 million, reflecting expanding government contracts. A 2024 Series E raised $173 million at a near‑$2 billion valuation, while the prior year showed a $31.2 million loss.

The IPO proceeds will repay debt and fund the deferred payment for the December acquisition of Innovative Signal Analysis, a Dallas‑based signal‑processing firm. Hawkeye’s debut joins a wave of defense‑tech listings, including Arxis’s $1.3 billion offering and Aevex’s $368 million float, underscoring heightened investor appetite as global conflicts lift military spending. NightDragon, holding over 5% of Hawkeye, will see its stake dilute post‑offering and reflects the broader shift toward defense data services.