# EDGAR Filing Document

**Accession Number:** 0002040127
**File Stem:** 0001193125-25-161962
**Filing Date:** 2025-7
**Character Count:** 32107
**Document Hash:** 97424c621081e0414e340364375909b7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-161962.hdr.sgml**: 20250721

**ACCESSION NUMBER**: 0001193125-25-161962

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250721

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250721

**DATE AS OF CHANGE**: 20250721

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Karman Holdings Inc.
- **CENTRAL INDEX KEY:** 0002040127
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 852660232
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42520
- **FILM NUMBER:** 251138014

**BUSINESS ADDRESS:**
- **STREET 1:** 5351 ARGOSY AVE
- **CITY:** HUNTINGTON BEACH
- **STATE:** CA
- **ZIP:** 92649
- **BUSINESS PHONE:** (714) 898-9951

**MAIL ADDRESS:**
- **STREET 1:** 5351 ARGOSY AVE
- **CITY:** HUNTINGTON BEACH
- **STATE:** CA
- **ZIP:** 92649

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TCFIII SPACECO HOLDINGS LLC
- **DATE OF NAME CHANGE:** 20241003

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of Earliest Event Reported): July 21, 2025

## KARMAN HOLDINGS INC.

#### (Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-42520** | **85-2660232** |
| **(State or other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification Number)** |

---

#### 5351 Argosy Avenue, Huntington Beach, CA 92649

#### (Address of Principal Executive Offices) (Zip Code)

#### Registrant's telephone number, including area code: (714) 898-9951
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

#### Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange**<br> **on which registered** |
| Common Stock, $0.001 Par Value | KRMN | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **Item 2.02.** | **Results of Operations and Financial Condition.**  |

---

On July 21, 2025, Karman Holdings Inc. (the "Company") issued a press release announcing certain estimated preliminary unaudited financial results for the second quarter ended June 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 (the "Section") of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

---

| | |
|:---|:---|
| **Item 8.01.** | **Other Events.**  |

---

On July 21, 2025, the Company issued a press release announcing that it had commenced a public underwritten offering (the "Offering") of 20,000,000 shares of its common stock (the "Common Stock") being offered by certain selling stockholders on Form S-1. The selling stockholders also expect to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of Common Stock. A copy of the press release is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

Neither this Current Report on Form 8-K nor the press releases constitutes an offer to sell, or the solicitation of an offer to buy, the shares of the Company's common stock.

*Trive LP Distribution and Extended Lock-Up* 

Concurrent with the consummation of the Offering, Trive Capital, the Company's largest stockholder and beneficial owner of 56.0% of the Company's outstanding common stock prior to the Offering (through its vehicle TCFIII Spaceco SPV LP), will effectuate a pro rata distribution-in-kind to its limited partners for no consideration, consisting of all shares of common stock held by TCFIII Spaceco SPV LP that are not sold in the Offering (the "Trive LP Distribution"). If requested by any Trive LP in connection with the Trive LP Distribution, TCFIII Spaceco SPV LP may continue to manage the shares for such Trive LP following the Trive LP Distribution (and, as a result, TCFIII Spaceco SPV LP may continue to have voting and dispositive power over such shares). Subject to TCFIII Spaceco SPV LP continuing to manage shares as a result of such requests, after giving effect to the Trive LP Distribution, Trive Capital and TCFIII Spaceco SPV LP will no longer beneficially own any shares of the Company's common stock.

In connection with and upon the effectuation of the Trive LP Distribution, (i) certain senior principals of Trive Capital, whose distributed shares will represent in the aggregate approximately 10.5% of the Company's outstanding common stock after giving effect to the Offering and the Trive LP Distribution (assuming no exercise of the underwriters' option to purchase additional shares), will be bound by a new lock-up restriction that, subject to certain customary exceptions, restricts the sale of 25% of such distributed shares for 360 days following the Offering and 75% of such distributed shares for 720 days following the Offering; (ii) certain other Trive Capital personnel (collectively with the individual distributees referred to in clause (i), the "Trive Recipients"), whose distributed shares will represent in the aggregate approximately 1.2% of the Company's outstanding common stock after giving effect to the Offering and the Trive LP Distribution (assuming no exercise of the underwriters' option to purchase additional shares), will be bound by a new lock-up restriction that, subject to certain customary exceptions, restricts the sale of such distributed shares for 360 days following the Offering; and (iii) certain other distributees and TCFIII Spaceco SPV LP (to the extent any shares are retained by TCFIII Spaceco SPV LP) whose shares will represent in the aggregate approximately 29.7% of the Company's outstanding common stock after giving effect to the Offering and the Trive LP Distribution (assuming no exercise of the underwriters' option to purchase additional shares) (collectively, "Other Recipients"), will be bound by a new lock-up restriction that, subject to certain customary exceptions, restricts the sale of such distributed shares for 360 days following the Offering. Such restrictions cannot be waived, in each case, without the prior written consent of Citigroup Global Markets Inc. and Evercore Group L.L.C.

------

The Trive LP Distribution is contingent upon the consummation of the Offering, but the consummation of the Offering is not contingent upon the Trive LP Distribution.

In addition, no earlier than 90 days from the date of the Company's prospectus for the Offering, the Company anticipates permitting its pre-IPO stockholders who are not participating in the Offering to elect to have a portion of such stockholders' shares released from the lockup restriction under the operating agreement of the Company's predecessor, Karman LLC, expiring February 11, 2026 (the "IPO Lockup Release"), in exchange for such stockholders agreeing to new lockup arrangements covering their remaining shares that will extend from the date of the IPO Lockup Release until 360 days thereafter with respect to 25% of such stockholders' shares and 720 days thereafter with respect to the remaining 75%, subject to customary exceptions. The amount of such stockholders' shares eligible for the IPO Lockup Release will be pro rata based on the amount of shares Trive sells in the Offering, which the Company expects to be approximately 30% of its holdings as of the date hereof.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.**  |

---

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 99.1 | [Press Release of Karman Holdings Inc., dated July 21, 2025.](d901003dex991.htm) |
| 99.2 | [Press Release of Karman Holdings Inc., dated July 21, 2025.](d901003dex992.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **KARMAN HOLDINGS INC.** | **KARMAN HOLDINGS INC.** |
| By: | /s/ Mike Willis |
| Name: | Mike Willis |
| Title: | Chief Financial Officer |

---

Date: July 21, 2025

## Exhibit 99.1

**Exhibit 99.1**![LOGO](g901003g0721102943990.jpg)

PRESS RELEASE

**Karman Space & Defense Releases Preliminary Second Quarter Fiscal Year 2025 Financial Results in Connection with Launch of Secondary Public Offering; Schedules Earnings Release, Conference Call and Webcast** 

HUNTINGTON BEACH, Calif., July 21, 2025 - <u>Karman Space & Defense</u> (NYSE: KRMN) ("Karman," the "Company," "we" or "us"), a leader in the rapid design, development and production of critical, next-generation system solutions for launch vehicle, satellite, spacecraft, missile defense, hypersonic and UAS customers, today released preliminary second quarter fiscal year 2025 financial results in connection with an underwritten public offering (the "Offering") of 20,000,000 shares of its common stock being offered by certain selling stockholders. The selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of common stock. The Company is not selling any shares of common stock and will not receive any proceeds from the sales of shares in the Offering. The Company also announced it will issue financial results for the Company's second quarter fiscal year 2025 after financial markets close on Thursday, August 7, 2025. Management will host a conference call and live audio webcast to discuss the results at 1:30 p.m. Pacific Time.

**Preliminary Second Quarter Fiscal Year 2025 Results (unaudited)** 

Set forth below are preliminary estimates of selected unaudited financial information and other information for the three months ended June 30, 2025, and actual unaudited financial results for the three months ended June 30, 2024. We have provided ranges of certain preliminary results below because our closing procedures for our fiscal quarter ended June 30, 2025 are not yet complete. These ranges are based on the information available to us as of the date of this press release. Our final results remain subject to customary closing procedures or subsequent events, however we do not expect our final results to materially differ from the preliminary results shown below. These preliminary estimates are forward-looking statements. Our unaudited financial results as of the three months ended June 30, 2025 are not yet finalized. During the course of the preparation of our unaudited financial statements and the notes thereto by management, additional items that require adjustments to the preliminary results presented below may be identified.

------

The preliminary results provided below do not represent a comprehensive statement of our financial results and should not be viewed as a substitute for the financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). In addition, the preliminary results for the three months ended June 30, 2025 are not necessarily indicative of the results to be achieved in any future period.

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Three Months Ended June 30,** |
| (In thousands, except percentages) | **2025** | **2025** | **2024** |
|  | **Low**<br> **(Estimated)** | **High**<br> **(Estimated)** |  |
|  Revenue | $114500 | $115000 | $85039 |
|  Gross Profit | $46700 | $47000 | $34594 |
|  Pretax Income | $8310 | $8400 | $4916 |
|  Net income | $6170 | $6200 | $4604 |
|  Funded backlog | $712000 | $715000 | $528008 |
|  Adjusted EBITDA<sup>1</sup> | $34850 | $35150 | $27423 |
|  Adjusted EBITDA margin<sup>1</sup> | $30.4% | $30.6% | $32.2% |

---

1. Adjusted EBITDA and Adjusted EBITDA margin are not calculated in accordance with GAAP. See below for a
reconciliation of net income (loss) to Adjusted EBITDA and net income (loss) margin to Adjusted EBITDA margin, the most directly comparable financial measures calculated in accordance with GAAP.

The estimates of Karman's revenue, gross profit, pretax income, net income, funded backlog and adjusted EBITDA, as of June 30, 2025 are preliminary, have not been audited, do not present all information necessary for an understanding of Karman's financial condition as of June 30, 2025, and are subject to change upon completion of Karman's financial statement closing procedures. The preliminary financial data included in the above has been prepared by, and is the responsibility of, Karman's management. Karman's independent registered public accounting firm has not audited, reviewed, examined, compiled, nor applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, Karman's independent registered public accounting firm does not express an opinion or any other form of assurance with respect thereto.

For the three months ended June 30, 2025, we expect revenue to be between $114.50 million and $115.00 million, representing an estimated increase of approximately 34.6% and 35.2%, compared to revenue of $85.04 million for the three months ended June 30, 2024.

------

For the three months ended June 30, 2025, we expect total gross profit to be between $46.70 million and $47.00 million, compared to total gross profit of $34.59 million for the three months ended June 30, 2024.

For the three months ended June 30, 2025, we expect income before provision for income taxes to be between $8.31 million and $8.40 million, compared to income before provision for income taxes of $4.92 million for the three months ended June 30, 2024.

For the three months ended June 30, 2025, we expect net income to be between $6.17 million and $6.20 million, compared to net income of $4.60 million for the three months ended June 30, 2024.

For the three months ended June 30, 2025, net income margin is expected to be 5.4%, compared to net income margin of 5.4% for the three months ended June 30, 2024.

For the three months ended June 30, 2025, we expect funded backlog to be between $712.00 million and $715.00 million, representing an estimated increase of approximately 34.8% and 35.4%, compared to funded backlog of $528.01 million for the three months ended June 30, 2024.

For the three months ended June 30, 2025, Adjusted EBITDA is expected to be between $34.85 million and $35.15 million, compared to Adjusted EBITDA of $27.42 million for the three months ended June 30, 2024. For the three months ended June 30, 2025, Adjusted EBITDA margin is expected to be between 30.4% and 30.6%, compared to Adjusted EBITDA margin of 32.2% for the three months ended June 30, 2024.

The following table reconciles expected net income (loss) to Adjusted EBITDA for the three months ended June 30, 2025, and net income (loss) margin to Adjusted EBITDA margin for the three months ended June 30, 2025, as well as actual financial results derived from our unaudited financial statements for the three months ended June 30, 2024:

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Three Months Ended June 30,** |
| (in thousands, except percentages) | **2025** | **2025** | **2024** |
|  | **Low**<br>**(Estimated)** | **High**<br>**(Estimated)** |  |
|  **Net income** | $**6170** | $**6200** | $**4604** |
|  Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax provision | 2140 | 2300 | 311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense, net | 11850 | 11900 | 13401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization<sup>(a)</sup> | 10280 | 10350 | 8306 |
|  **EBITDA** | **30440** | **30650** | **26622** |
|  Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition related expenses<sup>(b)</sup> | 3840 | 3910 | 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integration expenses and non-recurring restructuring costs<sup>(c)</sup> | 375 | 380 | 476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lender and administrative agent fees<sup>(d)</sup> | 195 | 210 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other non-recurring costs<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based compensation<sup>(f)</sup> |  |  | 246 |
|  **Adjusted EBITDA** | $**34850** | $**35150** | $**27423** |
|  Revenues | 114500 | 115000 | 85039 |
|  Net income margin | 5.4% | 5.4% | 5.4% |
|  Adjusted EBITDA Margin | 30.4% | 30.6% | 32.2% |

---

------

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| | |
|:---|:---|
| a | Depreciation and amortization expense includes a range of $2,780 to $2,850, and $1,985 of depreciation and amortization recorded in cost of goods sold for the three months ended June 30, 2025 and June 30, 2024, respectively.  |

---

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| | |
|:---|:---|
| b | Represents legal and due diligence fees incurred in connection with planned and completed acquisitions, which are required to be expensed as incurred. During the periods presented, these costs were incurred for due diligence and legal fees related to an acquisition of equipment and intangible assets.  |

---

c These costs include company-wide system implementation expenses and Company re-branding costs. This category also includes post-acquisition integration costs, and employee expenses related to acquisitions or restructuring activities.

d Reflects non-recurring lender fees associated with one-off amendments to the Company's credit agreement, separate from ongoing administrative fees.

e Other non-recurring costs consisted primarily of non-cash impairment losses during the three months ended June 30, 2024.

f Reflects non-cash share-based compensation expenses associated with the Company's P Units.

**Second Quarter Fiscal Year 2025 Earnings Conference Call and Webcast** 

Hosting the Company's conference call and webcast to review results for the second quarter fiscal year 2025 will be Tony Koblinski, Chief Executive Officer; Mike Willis, Chief Financial Officer; Jonathan Beaudoin, Chief Operating Officer; and Steven Gitlin, Vice President, Investor Relations.

Conference Call and Webcast Event Summary

Date: August 7, 2025

Time: 1:30 PM PDT \| 2:30 PM MDT \| 3:30 PM CDT \| 4:30 PM EDT

Participant Dial-In: toll-free +1 (800) 715-9871 / international toll +1 (646) 307-1963

Conference ID: 4015462

Investors with Internet access may listen to the live audio webcast directly by clicking <u>here</u> or via the Investors section of the Karman Space & Defense, Inc. website, <u>https://investors.karman-sd.com</u>, under "News and Events." Please allow 10 minutes prior to the call to download and install any necessary audio software.

**Audio Replay Options** 

An audio replay of the event will be archived on the Investor Relations section of the Company's website at https://investors.karman-sd.com. The audio replay will also be available via telephone from Thursday, August 7, 2025, at approximately 7:00 p.m. Pacific Time through Thursday, August 14, 2025, at 11:59 p.m. Pacific Time. Dial toll-free +1 (800) 770-2030 or international toll +1 (609) 800-9909 and use Playback ID: 4015462.

------

**Non-GAAP Financial Metrics** 

We present our results of operations in a way that we believe will be the most meaningful and useful to investors, analysts, rating agencies and others who use our financial information to evaluate our performance. Some of our financial measures are not prepared in accordance with generally accepted accounting principles ("non-GAAP") under the Securities and Exchange Commission (the "SEC") rules and regulations. For example, in this press release, we present, EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin, all of which are non-GAAP financial measures as defined in Item 10(e) of SEC Regulation S-K. These measures are presented for supplemental informational purposes only, and are not intended to be substitutes for any GAAP financial measures, including net income, and, as calculated, may not be comparable to companies in other industries or within the same industry with similarly titled measures of performance. In addition, these non-GAAP measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Therefore, non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from, measures prepared in accordance with GAAP. Where appropriate, reconciliations of our non-GAAP financial measures to the most comparable GAAP figures are included. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company.

**Forward-Looking Statements** 

This press release includes express or implied forward-looking statements. Forward-looking statements include all statements that are not historical facts including those that reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements are included throughout this press release and relate to matters such as our industry, business strategy, goals, and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, and other financial and operating information. We have used the words "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "expectation," "believe," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "likely," "seek," "project," "model," "ongoing," "will" "should," "should," "forecast," "outlook" or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections, our perception of historical trends and current conditions, as well as other factors that we

------

believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. These risks and uncertainties include, but are not limited to, risks and uncertainties described in Karman's registration statement on Form S-1, as it may be amended from time to time, and its Annual Report on Form 10-K for the year ended December 31, 2024 and any subsequent filings with the SEC. There can be no assurance that our expectations, estimates, assumptions and/ or projections, including with respect to the future earnings and performance or capital structure of Karman, will prove to be correct or that any of our expectations, estimates or projections will be achieved.

The forward-looking statements contained in this press release are based on management's current expectations and are not guarantees of future performance. Our expectations and beliefs are expressed in management's good faith, and we believe there is a reasonable basis for them, however, the forward-looking statements are subject to various known and unknown risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond our control.

**ABOUT KARMAN SPACE & DEFENSE** 

Karman Space & Defense is a leader in the <u>rapid</u> design, development and production of critical, next-generation system solutions for launch vehicle, satellite<u>,</u> spacecraft, missile defense, hypersonic and UAS customers. Building on nearly 50 years of success, we deliver Payload & Protection Systems, Aerodynamic Interstage Systems, and Propulsion & Launch Systems to more than 70 prime contractors supporting over 100 space and defense programs. For more information, visit **<u>Karman-SD.com</u>**. ###

For additional media and information, please follow us

<u>LinkedIn</u> 

<u>X</u> 

<u>Instagram</u> 

<u>YouTube</u> 

------

**Contacts** 

Investor contact:

Steven Gitlin

<u>investors@karman-sd.com</u> 

Media contact:

<u>press@karman-sd.com</u>

## Exhibit 99.2

**Exhibit 99.2**![LOGO](g901003g0721102943990.jpg)

July 21, 2025

**Karman Announces Proposed Public Offering of Common Stock** 

HUNTINGTON BEACH, Calif.—(<u>BusinessWire</u>)— Karman Holdings Inc. (NYSE: KRMN) ("Karman" or the "Company"), a leader in the rapid design, development and production of critical, next-generation system solutions for launch vehicle, satellite, spacecraft, missile defense, hypersonic and UAS customers, today announced a proposed underwritten public offering of 20,000,000 shares of its common stock (the "Common Stock"). The offering consists of 20,000,000 shares of Common Stock being offered by certain selling stockholders. The selling stockholders also expect to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of Common Stock. No shares are being sold by Karman in the offering and Karman will not receive any proceeds from the offering. The selling stockholders will receive all of the proceeds from the offering.

Citigroup and Evercore ISI are acting as book-running managers for the proposed offering and as representatives of the underwriters for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone: (800) 831-9146 and Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone: (888) 474-0200, or by email: ecm.prospectus@evercore.com.

A registration statement on Form S-1, including a prospectus, relating to the proposed offering of Common Stock has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. Accordingly, the Common Stock may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Common Stock, nor shall there be any sale of the Common Stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

**About Karman** 

Karman Space & Defense is a leader in the <u>rapid</u> design, development and production of critical, next-generation system solutions for launch vehicle, satellite<u>,</u> spacecraft, missile defense, hypersonic and UAS customers. Building on nearly 50 years of success, we deliver Payload & Protection Systems, Aerodynamic Interstage Systems, and Propulsion & Launch Systems to more than 70 prime contractors supporting over 100 space and defense programs.

**Forward-Looking Statements** 

This press release includes express or implied forward-looking statements. Forward-looking statements include all statements that are not historical facts including those that reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements are included throughout this press release. We have used the words "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "expectation," "believe," "may," "could," "intend," "belief," "plan,"

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![LOGO](g901003g0721102943990.jpg)

"estimate," "target," "predict," "likely," "seek," "project," "model," "ongoing," "will" "should," "should," "forecast," "outlook" or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections, our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. These risks and uncertainties include, but are not limited to, risks and uncertainties associated with the consummation of the offering and other risks described in Karman's registration statement on Form S-1, as it may be amended from time to time, and its Annual Report on Form 10-K for the year ended December 31, 2024 and any subsequent filings with the U.S. Securities and Exchange Commission. There can be no assurance that our expectations, estimates, assumptions and/ or projections will prove to be correct or that any of our expectations, estimates or projections will be achieved.

The forward-looking statements contained in this press release are based on management's current expectations and are not guarantees of future performance. Our expectations and beliefs are expressed in management's good faith, and we believe there is a reasonable basis for them, however, the forward-looking statements are subject to various known and unknown risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond our control.

**Contacts** 

Investor contact:

Steven Gitlin

<u>investors@karman-sd.com</u> 

Media contact:

<u>press@karman-sd.com</u>