10:41 AM EST, 02/13/2025 (MT Newswires) -- Karman Holdings ( KRMN ) said late Wednesday it has priced its initial public offering of 23 million common shares at $22 per share.

The offering consists about 8.4 million shares offered by the company and about 14.6 million shares offered by existing Karman ( KRMN ) shareholders, the company said, adding that it will not receive proceeds from the sale of shares by selling stockholders.

The shares were expected to start trading on the New York Stock Exchange under the symbol "KRMN" on Feb. 13, Karman ( KRMN ) said.

The offering is expected to close on Friday.

Karman ( KRMN ) also said that certain selling stockholders have given the underwriters a 30-day option to buy up to roughly 3.5 million more shares to cover any overallotments. The company will not receive any proceeds from the sale of such shares.

The company said it plans to use the net proceeds for general corporate purposes.