- Virginia-based signals intelligence company HawkEye 360 has gone public on the NYSE, raising $416M at a $2.4B valuation.
- The company operates a constellation of 30+ satellites that detect and locate radio frequency signals anywhere on Earth.
- The IPO lands amid a boom in defence-tech listings, with Arxis and Aevex both posting strong debut gains in recent weeks.
HawkEye 360, a Herndon, Virginia-based signals intelligence company, has raised $416 million in a US initial public offering, putting the valuation at about $2.42 billion.
The company sold 16 million shares at $26 each, the top end of its marketed range of $24 to $26. The stock begins trading today on the New York Stock Exchange under the ticker HAWK.
Goldman Sachs and Morgan Stanley are serving as lead book-running managers for the offering. RBC Capital Markets, Jefferies and BofA Securities are also acting as book-running managers.
All proceeds go to the company rather than existing shareholders, with underwriters having a 30-day option to buy up to 2.4 million additional shares at the same price, which could increase the total size of the offering if fully exercised.
Founded and led by John Serafini in 2015, HawkEye 360 provides signal-intelligence data to defence, intelligence and national security customers. Its satellite network is used to detect, locate, and analyse radio-frequency emissions around the world, giving governments and allied agencies a way to monitor activity from space.
HawkEye 360 has also been backed by Insight Partners, which led the company’s $145 million Series D in 2021 and participated in its $58 million Series D-1 round in 2023. The company operates more than 30 satellites, with most of its revenue coming from the U.S. government and allied nations, according to the announcement.
Competitors, including Spire Global and nseenlabs, are also building RF sensing capabilities from orbit. But HawkEye has moved faster than most toward profitability, posting net income of $48,000 in 2025 after losing $31.2 million the year prior.
HawkEye plans to retire roughly $49.8 million in debt and cover a $7.5 million deferred obligation tied to its December 2025 acquisition of Innovative Signal Analysis, a signal-processing technology firm. The remainder goes toward working capital and general corporate purposes, including expanding its satellite constellation and deepening its intelligence product suite.
