Anduril's tender offer allows employees to sell shares at $94.80 each, with the offer running from October 13 to November 9 and capped at $1.3 billion. This move comes as the company has experienced rapid growth, doubling its valuation to $61 billion following a $5 billion funding round in May.
The startup has benefited from increased demand in the U.S. defense technology sector, particularly under initiatives to modernize military capabilities. Notably, co-founder Palmer Luckey is actively involved in advisory roles related to defense contracts, and the company recently secured a contract with the U.S. Navy worth up to $2.9 billion.
Founded in 2017, Anduril is recognized for its innovative technologies, including drones and AI software, and has gained attention for its military applications, further solidifying its position in the defense industry