April 29 (Reuters) – Defense supplier L3Harris said on Wednesday it has confidentially submitted a draft registration statement for the initial public offering (IPO) of its missile solutions business.
The company said the number of shares to be offered and the price range for the proposed IPO are yet to be determined.
In January, L3Harris said it plans to sell new equity in its growing rocket motor business, creating a new company backed by a $1 billion U.S. government convertible security investment.
The securities would automatically convert into common equity when the company goes public later in 2026, the defense contractor said at the time.
The U.S. government’s investment would guarantee the Pentagon a steady supply of much-needed motors for a wide range of missiles such as Tomahawks and Patriot interceptors.
L3Harris CEO Chris Kubasik told reporters in January that he expected annual growth rates at the new missile business to be in the mid- to high teens.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Sumana Nandy and Sherry Jacob-Phillips)
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