---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-080289"
form_type: "8-K"
ticker: "KRMN"
cik: "0002040127"
company_name: "Karman Holdings Inc."
filed_at: "2025-06-02T23:59:59+00:00"
generated_at: "2026-05-20T03:26:25.662930+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Karman acquires ISP for $50M cash plus stock; upsizes term loan by $75M

## Summary
- Acquired Industrial Solid Propulsion (ISP) for $50M cash, ~$5M in Karman common shares, plus $5M in potential earnout payments.
- Funded cash portion via $75M incremental term loan upsizing its existing $300M Term Loan B.
- ISP is a 40-year-old provider of small-diameter energetic propulsion for UAS, intercept, and rocket-assisted takeoff systems.
- Acquisition is accretive to Karman across revenue growth, EBITDA margin, contracted revenue, and cash flow.
- Transaction closed May 28, 2025; ISP has 14 proprietary propellant families and 400+ motor configurations.

## SEC filing metadata
- accession: 0000950170-25-080289
- form_type: 8-K
- ticker: KRMN
- cik: 0002040127
- company_name: Karman Holdings Inc.
- filed_at: 2025-06-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2040127/000095017025080289/0000950170-25-080289-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2040127/000095017025080289/ck0002040127-20250527.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-080289
- JSON: https://secwatch.observer/filing/0000950170-25-080289.json
- Plain text: https://secwatch.observer/filing/0000950170-25-080289.txt

## Key facts
- Debt Financings
  Karman Holdings Inc. incurred term loan of aggregate original principal amount of $75,000,000 with Citibank, N.A..
  - Instrument: term loan
  - Principal: aggregate original principal amount of $75,000,000
  - Counterparty: Citibank, N.A.
  - Event: incurrence
  source text: The Credit Agreement Amendment provides for an incremental term loan in the aggregate original principal amount of $75,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/2040127/000095017025080289/0000950170-25-080289-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.