(Bloomberg) -- Lyntris Inc. and some of its backers are seeking to raise as much as $528 million in an initial public offering, joining a wave of listings driven by demand for defense equipment.

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The sensor technology company is offering 4.9 million shares in the IPO, and the shareholders including private equity firm Trive Capital are selling 19.1 million shares, for $19 to $22 each, according to its filing Monday with the US Securities and Exchange Commission.

At the top of that range, Lyntris would have a market value of $2.53 billion based on the outstanding shares listed in its filing.

The Falls Church, Virginia-based company had a net loss of $13 million on revenue of $241 million for the six months ended June 30, versus a net loss of $9.7 million on revenue of $179.1 million for the corresponding period a year earlier, according to the filing.

Lyntris makes systems combining sensors, antennas and proprietary software for military use, playing an active role in more than 200 programs serving the US Department of Defense and international allies, the filing shows.

Defense and aerospace companies have been a reliable source of recent listings as increasing geopolitical tensions drive military spending. Applied Aerospace & Defense Inc., York Space Systems Inc., Hawkeye 360 Inc. and Aevex Corp. all went public in the US this year.

Lyntris intends to use the IPO proceeds for purposes including repaying approximately $60 million of outstanding debt.

The company was formed earlier this year through the combination of Vitesse Systems and Accelint, both of which were portfolio companies of Dallas-based Trive.

The offering is being led by Evercore Inc., Citigroup Inc. and Guggenheim Securities. Lyntris expects its shares to trade on the New York Stock Exchange under the symbol LYNX.

--With assistance from Anthony Hughes.

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