HawkEye 360 launches IPO roadshow, sets goals for listing
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By
Ross Wilkers
The 11-year-old commercial satellite operator is now officially at work in marketing its stock to potential institutional investors.
HawkEye 360 has set the terms of its pending initial public offering and the valuation it is seeking to fetch from investors through the sale of its stock, according to amended regulatory documents filed Monday.
The commercial satellite operator plans to offer investors 16 million shares at a price range of $24-to-$26 each, which would raise between $384 million and $416 million in proceeds. The IPO’s underwriters will have a 30-day option to purchase up to 2.4 million shares if investor demand outstrips the initial supply.
If all goes according to plan, HawkEye 360 would hit a valuation of $2.4 billion by going to the public markets as its next source of capital. The company plans to list its shares on the New York Stock Exchange under the ticker symbol “HAWK.”
HawkEye 360 has also launched its roadshow ahead of the IPO, where senior executives and the offering’s underwriters give presentations to potential institutional investors with the goal of generating demand for the stock. Responses to those presentations inform the final share price on the IPO’s launch date.
The company opened for business in 2015 and has to-date launched 30 satellites, which operate in clusters of three as they collect radio frequency signal location data that operators use to generate intelligence products.
John Serafini has led HawkEye 360 as CEO since the fall of 2016, when he succeeded company founder Chris DeMay.
HawkEye 360 posted $117.6 million in revenue on $2.6 million in net income for 2025, while U.S. government work represented 61% of that year’s sales mix.
Up to $15 million of the IPO’s net proceeds will help fund HawkEye 360’s acquisition of Innovative Signal Analysis, which was announced in December.
The IPO follows several other large capital raises HawkEye 360 has completed during the past handful of years, including its more recent $150 million Series E round that is contributing to the ISA purchase.
Goldman Sachs & Co. LLC and Morgan Stanley are acting as lead book-running managers for the offering. RBC Capital Markets, Jefferies and BofA Securities are acting as additional book-running managers. Baird, Raymond James, and William Blair are acting as bookrunners.