Space and Defense Firm Karman’s IPO Targets Raising $421 Million

Karman Holdings Inc., a maker of integrated systems for space and defense programs, and shareholders including Trive Capital are seeking to raise as much as $421 million in its initial public offering.

The Huntington Beach, California-based company, which has been doing business as Karman Space and Defense, and the selling shareholders are offering stock for $18 to $20 each, according to its filing Wednesday with the US Securities and Exchange Commission. The company and the shareholders are offering 8.4 million shares and 12.6 million shares respectively.

At the top of the price range, Karman would have a market value ...