8-KCurrent report
Other events
✓ VerifiedThe Department of War agreed to invest $1 billion in L3Harris' Aerojet Rocketdyne subsidiary through convertible preferred stock and warrants, funding capacity expansion ahead of a possible Aerojet IPO.
Filed Apr 23, 2026 · 06:03 ET
Summary
- Aerojet Rocketdyne entered definitive agreements with the United States Department of War on April 16, 2026 for Series A convertible preferred stock and warrants totaling $1 billion.
- The investment funds facility expansion and modernization, accelerated research and development, and increased production capacity for critical technologies.
- In an Aerojet IPO, the preferred converts automatically at 80% of the public offering price, with the government anticipated to own less than 10% after exercise.
Key facts
- Investment
- $1 billion
From the filing for Investment
“warrants (the "Warrants") to purchase common stock of AJRD (the "Common Stock") for an aggregate purchase price of $1 billion”
- IPO conversion
- 80% of IPO price
From the filing for IPO conversion
“automatically convert into Common Stock of the IPO Company at a conversion price equal to 80% of the price to the public in the IPO”
Why it mattersThe government taking direct equity in a propulsion maker is industrial policy landing inside a public company, with an Aerojet IPO now on the table.
- Filed
- Apr 23, 2026
- Accepted
- 2026-04-23 10:03Z
- Period
- Apr 16, 2026
- Accession no.
- 0000202058-26-000024
- Size
- 202 KB
- Index
- Filing index