Aerospace and defense components manufacturer Arxis Inc. is seeking to raise up to $1.06 billion in its U.S. initial public offering. According to a filing submitted to the Securities and Exchange Commission on Wednesday, the company plans to offer 37.7 million shares priced between $25 and $28 per share. If priced at the top of the range, the company would achieve a market valuation of $11.2 billion based on the number of shares outstanding detailed in the filing.

Backed by investment firm Arcline, Arxis manufactures electronic and mechanical components for the aerospace and defense, medical technology, and specialized industrial markets. The IPO arrives as investor interest grows in defense demand and expenditure, coinciding with rising defense budgets. In the United States, the new administration is expected to prioritize new contractors while strengthening and modernizing missile and ammunition stockpiles.

Defense and space represent Arxis's largest end market, accounting for approximately 47% of its projected 2025 revenue. Its commercial aerospace segment is expected to contribute about 23% of revenue for the same period. The filing indicates that last year the company generated $1.6 billion in revenue with a net income of approximately $46 million, compared to revenue of $743 million and a net loss of $55 million in 2024.

Arxis serves over 5,000 customers, with roughly 90% of its revenue derived from patented products. The company's listing is anticipated to be one of the few industrial sector IPOs in the U.S. this year. Other expected listings include Aevex Corp., supported by Madison Dearborn Partners, and nuclear energy company X-Energy Inc.

Goldman Sachs Group, Morgan Stanley, and Jefferies Financial Group are serving as lead underwriters for the offering. Arxis expects its shares to trade on the Nasdaq Global Select Market under the ticker symbol "ARXS".