HawkEye 360 reports $437.5 million in IPO net proceeds and $292.2 million backlog after NYSE debut

What happened. HawkEye 360 shares began trading on the New York Stock Exchange under the ticker HAWK on May 7, 2026, according to the NYSE. The company priced its initial public offering on May 6 at 16 million shares for $26.00 each, about $416 million in gross proceeds. Goldman Sachs and Morgan Stanley were the lead book-running managers. Per its second-quarter Form 10-Q, the underwriters exercised in full their option on 2.4 million more shares, bringing the sale to 18.4 million shares and $478.4 million before fees. HawkEye 360 received net proceeds of $437.5 million.

Details. The company’s final prospectus says it planned to use the proceeds to repay its 2025 term and mezzanine loans, make a $7.5 million deferred payment for its acquisition of Innovative Signal Analysis (ISA), and fund working capital. The 10-Q says HawkEye 360 entered into a $125.0 million revolving credit facility with Bank of America on May 19, 2026, and had drawn nothing on it as of June 30. The 10-Q puts backlog at $292.2 million as of June 30, 2026, compared with $302.7 million at Dec. 31, 2025. In its second-quarter results, released Aug. 13, the company reported revenue of $49.8 million, up 87% from $26.6 million a year earlier, and a net loss of $15.3 million.

The prospectus describes the business as detecting, characterizing and geolocating radio-frequency (RF) emissions, such as radars, jammers, beacons and mobile radios, from a constellation of more than 30 satellites. The satellites fly in clusters of three, in formation. SFL Missions of Toronto says it built Clusters 2 through 6 on its 30-kg DEFIANT microsatellite bus, and that Cluster 7, launched in April 2023, was the first set of three satellites HawkEye 360 integrated in-house under SFL’s “Flex Production” program. The prospectus says the company’s Herndon, Va., headquarters hosts its satellite assembly, payload development and constellation operations.

Rocket Lab’s Electron launched HawkEye 360’s three Cluster 16 satellites from Launch Complex 1 in New Zealand on Oct. 23, 2026, the company said. Rocket Lab said that mission, “We’re Not Hawking Around,” was Electron’s 98th launch and its third launch dedicated to HawkEye 360 (our earlier report). HawkEye 360 said in the same release that it has secured launch opportunities through 2028.

Why it’s notable. The company’s first earnings report as a public company covered the first quarter and came out on June 22, 2026. As of Oct. 28, its IR calendar lists no date for third-quarter results.