Lyntris raises $297.5 million in downsized defense tech IPO

Defense technology firm Lyntris has completed a downsized initial public offering on the New York Stock Exchange, raising approximately $297.5 million. The company priced its 17 million shares at $17.50 each, which fell below its initial marketed range of $19 to $22. The offering was smaller than the original plan to sell 24 million shares, which aimed to raise up to $528 million.

Following its market debut on August 19, Lyntris shares fell by 11%. The company, which was formed through the consolidation of Trive Capital portfolio companies Accelint and Vitesse, specializes in battlefield sensors, hardware, and software for military applications including missile defense and maritime awareness.

Lyntris reported approximately $451 million in revenue for the fiscal year ending June 30, 2026, but recorded a net loss of roughly $12 million. The company is headquartered in Falls Church, Virginia. Proceeds from the IPO are intended for debt repayment and general corporate purposes.