Defense Firm York Space Shares Dip 1% After $629 Million IPO (3)

York Space Systems Inc. shares fell 1.1% in their trading debut after the company raised $629 million in an upsized US initial public offering.

After an initial climb, the stock of the space and defense company closed lower at $33.61 on Thursday, compared to an IPO price of $34. The company sold 18.5 million shares in the listing after marketing 16 million shares for $30 to $34.

The trading gave the company a market value of about $4.3 billion based on outstanding shares listed in its filings. It came during a dip in the broader market on Thursday that sent ...