Anduril Employees Get A Chance To Cash In At $90 Billion Valuation In Latest Share Sale

Benzinga · 1d ago

Anduril Industries Inc. is permitting employees to sell shares as part of a tender that values the defense company at approximately $90 billion.

The tender would let employees sell shares at $94.80 each and would be capped at approximately $1.3 billion, Bloomberg reported. The company’s latest offer will extend eligibility to employees in 16 countries, a first for the defense technology firm.

Previous tenders were limited to staff in the U.S., U.K. and Australia.

Anduril has periodically offered employees the chance to sell shares through tender offers, a common way private startups provide workers with liquidity before going public.

The offer opened on Oct. 13 and will close Nov. 9.

Anduril, launched in 2017 by Palmer Luckey, is known for autonomous systems, drones, and military software, and is pushing further into maritime and undersea technology.

Earlier this month, the company announced a partnership with Gecko Robotics to automate inspections across its maritime manufacturing operations, including the planned Arsenal-2 facility in Baltimore County, Maryland

The U.S. Army recently awarded Anduril a contract worth up to $1.8 billion to move its Next-Generation Command and Control system from large-scale testing toward operational deployment, beginning with I Corps. The award has a base value of $162.8 million, with options that could bring the total value to $1.8 billion over five years.

In May, the company announced its Series H funding raised $5 billion, bringing its valuation to $60 billion. Thrive Capital and Andreessen Horowitz led the round.

Anduril CEO Brian Schimpf said last year the company planned to double its revenue by more than $2 billion and boost its production by 400%.

Photo: Shutterstock