L3Harris Closes $1B Investment from Department of War in Missile Solutions Business

WASHINGTON, April 23, 2026— L3Harris Technologies (NYSE: LHX) has finalized a $1 billion strategic investment from the Department of War (DoW) aimed at enhancing its Missile Solutions (MSL) business. This funding will facilitate the expansion and modernization of facilities, accelerate research and development efforts, and boost production capacities for pivotal national security technologies.

The financial backing from the DoW is structured as a convertible preferred security within the MSL framework, with plans for conversion into common equity following an initial public offering (IPO). Furthermore, the DoW is set to obtain specific warrants to purchase common stock in MSL. As previously communicated, L3Harris is currently planning to initiate an IPO for MSL in the latter half of 2026, subject to prevailing market conditions.

In alignment with DoW priorities such as PAC-3, THAAD, Tomahawk, and Standard Missile programs, L3Harris is committing billions to transform and expand its production operations at MSL. The establishment of MSL in early 2026 marked a consolidation of missile capabilities across L3Harris, including legacy operations from Aerojet Rocketdyne.

“This strategic partnership with the Department of War highlights the essential role L3Harris plays in fortifying our national security,” stated Christopher Kubasik, Chairman and CEO of L3Harris. “This investment will accelerate our innovation efforts and strengthen our capacity to deliver the advanced capabilities our warfighters require to deter and counter emerging threats. We are honored to partner with the DoW to ensure the resilience of our defense industrial base for the long term.”

The capital from the DoW, along with anticipated IPO proceeds and additional funding sources, will be directed towards enhancing and modernizing solid rocket motor production facilities located in Camden, Arkansas; Huntsville, Alabama; and Orange, Virginia, among others.

L3Harris will retain majority control (greater than 80%) of the new MSL business and will consolidate its financial results.

About L3Harris Technologies

L3Harris is a trusted innovator in defense technology. Focused on meeting the mission-critical needs of its customers, L3Harris employees deliver comprehensive technology solutions that integrate space, air, land, sea, and cyber domains, all in the interest of national security. For further information, visit L3Harris.com.

Forward-Looking Statements

This release contains forward-looking statements as defined by federal securities laws and is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts but rather projections based on current views and assumptions that may evolve substantially. Actual outcomes may differ significantly from those anticipated. Such statements are generally identifiable by the use of terms like “estimate,” “plan,” “shall,” “may,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “will,” “target,” or similar terminology relating to potential future events. Examples include any predictions regarding an independently traded MSL company or the timeline of any potential IPO.

L3Harris cautions investors that these forward-looking statements are subject to various risks and uncertainties that may lead to different outcomes. Factors that could impact actual results include legal challenges associated with the investment, government procurement outcomes, economic uncertainties, and other unanticipated risks that could delay or diminish the expected benefits of the investment.

It is essential to note that L3Harris does not intend to update or revise any forward-looking statements in light of new information or future developments.

No Offer or Solicitation

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any sales or offers will comply with the registration requirements of the Securities Act of 1933, as amended.

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Source: L3Harris (2026-04-23)