Defense tech firm Lyntris targets $2.5 billion valuation in US IPO

Aug 10 : Lyntris is targeting a valuation of up to $2.53 billion in its U.S. initial public offering, the Trive Capital-backed company said on Monday, making it the latest to test strong investor appetite for defense listings.The Falls Church, Virginia-based Lyntris and selling stockholders are seeking up to $528 million by offering 24 million shares priced between $19 and $22 apiece.A flurry of defense companies has pressed ahead with their listing plans since April as the U.S.-Israeli war on Iran has boosted investor appetite.AEVEX, Arxis, HawkEye 360, Applied Aerospace & Defense and Doncasters have debuted in New York since April. Trive Capital combined portfolio companies Accelint and Vitesse in May to form Lyntris. The combined firm has bulked through 12 acquisitions since 2018.Lyntri