Space analytics firm HawkEye 360 ​​has raised $416 million through its US initial public offering, according to Reuters, underscoring growing investor interest in defense and space-technology companies.

The Herndon, Virginia-based company priced its IPO at $26 per share, the high end of its stated range of $24 to $26. HawkEye sold 16 million shares in the offering, valuing the company at about $2.42 billion.

After a strong April for new listings, IPO activity is expected to gather momentum in the coming months, Reuters reported. HowkEye 360 ​​and consumer brand Suja Life are among the companies testing investor appetite in sectors ranging from protection technology to consumer products.

The offering is also seen as an indicator of market sentiment toward space-technology firms ahead of SpaceX’s expected public filing, which could encourage more companies in the sector to access equity markets, Reuters said.

Founded in 2015, HawkEye 360 ​​provides signals-intelligence data to defense, intelligence and national security agencies. Its satellite network is used to detect, detect and analyze radio frequency emissions globally.

The company currently operates more than 30 satellites, with a significant portion of its revenue coming from the US government and partner countries.

Reuters reported that Hawkeye expanded its capabilities with the acquisition of ISA in December, which aimed to strengthen its expertise in signal processing and classified intelligence systems, while also deepening ties with US government agencies.

HawkEye shares are expected to begin trading on the New York Stock Exchange on Thursday under the ticker symbol “HAWK.” Goldman Sachs, Morgan Stanley, RBC Capital Markets and Jefferies are acting as underwriters for the offering.