York Space Systems files for public offering

York Space Systems, a private equity-backed small satellite maker whose customer base includes the Defense Department, has filed for an initial public offering following a string of other listings by space companies this year.

Neither the price range for the IPO nor the number of shares to be offered have been determined yet, according to York’s S-1 registration documents filed Monday.

AE Industrial Partners is currently the majority owner of York after having acquired its stake in 2022. York intends for its shares to trade on the New York Stock Exchange with the ticker symbol "YSS."

Founded in 2012 by CEO Dirk Wallinger, York has sought to position itself in the market as a lower-cost alternative manufacturer of satellites for use in low-Earth and geosynchronous equatorial orbits.

The 670-employee company also builds components for larger satellites and has steadily branched out into related offerings such as software, antennas and data connections.

Denver-headquartered York reported $280.9 million in revenue for the first nine months of 2025, a 59% jump over the same period for 2024. The company reported $253.5 million in full-year sales for 2024.

The company also has shrunk its net losses over the past year, going from $73.9 million in 2024’s first nine months to $56 million for the same period in 2025.

Substantially all of York’s revenue and $642 million backlog as of Sept. 30 came from contract work with the Space Development Agency, for whom the company has been contracted to build satellites for three tranches as part of SDA’s next-generation missile warning constellation.

York has won six contracts as part of the Proliferated Warfighter Space Architecture and the company is looking to apply that experience in any potential future work for the Golden Dome missile defense initiative, the S-1 filing says.

York’s primary purpose in undertaking the IPO is to tap the public markets for working capital to fund its growth initiatives and other general corporate purposes. This could include building inventory, research-and-development and capital expenditures.

Even with the IPO’s size and specs TBD, the filing indicates that AE Industrial will continue to hold the majority of voting power in York through the stock it will own.

Like with the NASDAQ, the New York Stock Exchange’s rules allow for certain “controlled company exemptions” like this to allow for public listings and individuals or groups to have more than 50% of the voting power.

Firefly Aerospace falls under that category following its IPO in August, where AE Industrial still essentially controls the company’s affairs.

Goldman Sachs, Jefferies and Wells Fargo Securities are acting as lead bookrunning managers for York’s proposed offering.

York is looking for the same type of investor interest that Firefly and Voyager Technologies received in their IPOs this year, owing to the role of space in defense.