Anduril tender offer values defense maker at about $90 billion

Anduril launched an employee tender offer in October 2026 that valued the defense technology company at roughly $90 billion, according to SmartAsset. Eligible employees can sell shares at $94.80 apiece in transactions totaling up to $1.3 billion, and the offer is expected to close on November 9, 2026. The sale brings no new capital into the company and instead lets existing shareholders cash out part of their holdings.

The figure sits above Anduril's most recent completed financing. Its $5 billion Series H, led by Thrive Capital and Andreessen Horowitz, closed in May 2026 at a $61 billion valuation, double the $30.5 billion set by the Series G less than a year earlier. A Series F was announced in August 2024 at $14 billion. Reuters reported in July 2026 that Anduril was in fluid discussions over a financing at about $100 billion, and the company said no decisions had been made.

Co-founder Palmer Luckey said in 2025 that Anduril would "definitely" go public, later pointing to a timeline of low single-digit years. As of October 2026 the company had not filed an S-1, named underwriters or set a price range. Chief executive Brian Schimpf has said Anduril plans to keep spending heavily on manufacturing, research and production capacity.

This story was first reported by SmartAsset.com.