L3Harris Technologies announced a $1 billion investment from the Department of Defense that will be used to expand and modernize its newly formed Missile Solutions (MSL) business, a unit created in early 2026 to consolidate the company’s missile‑related capabilities, including legacy Aerojet Rocketdyne operations.
The funding is structured as a convertible preferred security with attached warrants and is designed to convert to common equity when the company completes a planned initial public offering of the Missile Solutions business in the second half of 2026. L3Harris will retain majority ownership of more than 80 % of the unit and will continue to consolidate its financial results.
The investment is a strategic validation of L3Harris’s role in national security. It will support key missile programs such as PAC‑3, THAAD, Tomahawk, and Standard Missile, and will fund capacity expansion at facilities in Camden, Arkansas; Huntsville, Alabama; and Orange, Virginia.
Christopher Kubasik, Chairman and CEO, said the partnership “is a testament to the critical role L3Harris plays in our national security.” He added that the capital will accelerate innovation and enhance the company’s ability to deliver advanced capabilities to warfighters.
The infusion strengthens the U.S. defense industrial base and positions L3Harris to meet growing demand for advanced missile systems amid heightened global security concerns. The planned IPO will unlock value while allowing the company to retain control of the high‑growth missile segment.
The investment also signals confidence in the company’s execution and future growth prospects, providing a significant capital boost without diluting existing shareholders.
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