Trump's War Department invests $1 billion to get pre-IPO shares of this rocket-motor maker [View all]

Shares of L3Harris Technologies shot further into record territory Tuesday after the defense contractor became the latest company in which the U.S. government has taken an ownership stake.

A $1 billion investment by the U.S. Defense Department in L3Harris’s recently created missile-solutions business comes ahead of the company’s plan to pursue an initial public offering of the business. The investment was made through convertible preferred securities that will automatically convert into common stock in an IPO, which is targeted to take place in the second half of 2026.

More behind a paywall at:

https://www.marketwatch.com/story/trumps-war-department-invests-1-billion-to-get-pre-ipo-shares-of-this-rocket-motor-maker-9d06fd7f

When did taxpayer dollars get approved to be “invested” by some turd in this maladminstration?