<SEC-DOCUMENT>0000950170-25-099844.txt : 20250729
<SEC-HEADER>0000950170-25-099844.hdr.sgml : 20250729
<ACCEPTANCE-DATETIME>20250729211642
ACCESSION NUMBER:		0000950170-25-099844
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250725
FILED AS OF DATE:		20250729
DATE AS OF CHANGE:		20250729

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Trive Capital Fund III-A LP
		CENTRAL INDEX KEY:			0001712546
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42520
		FILM NUMBER:		251163699

	BUSINESS ADDRESS:	
		STREET 1:		2021 MCKINNEY AVENUE, SUITE 1200
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		214.499.9715

	MAIL ADDRESS:	
		STREET 1:		2021 MCKINNEY AVENUE, SUITE 1200
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TCFIII Spaceco SPV LP
		CENTRAL INDEX KEY:			0002055575
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42520
		FILM NUMBER:		251163701

	BUSINESS ADDRESS:	
		STREET 1:		2021 MCKINNEY AVENUE, SUITE 1200
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		214.499.9715

	MAIL ADDRESS:	
		STREET 1:		2021 MCKINNEY AVENUE, SUITE 1200
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Trive Capital Fund III LP
		CENTRAL INDEX KEY:			0001712547
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42520
		FILM NUMBER:		251163700

	BUSINESS ADDRESS:	
		STREET 1:		2021 MCKINNEY AVENUE, SUITE 1200
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		214.499.9715

	MAIL ADDRESS:	
		STREET 1:		2021 MCKINNEY AVENUE, SUITE 1200
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Karman Holdings Inc.
		CENTRAL INDEX KEY:			0002040127
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				852660232
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		5351 ARGOSY AVE
		CITY:			HUNTINGTON BEACH
		STATE:			CA
		ZIP:			92649
		BUSINESS PHONE:		(714) 898-9951

	MAIL ADDRESS:	
		STREET 1:		5351 ARGOSY AVE
		CITY:			HUNTINGTON BEACH
		STATE:			CA
		ZIP:			92649

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TCFIII SPACECO HOLDINGS LLC
		DATE OF NAME CHANGE:	20241003
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
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<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-07-25</periodOfReport>

    <issuer>
        <issuerCik>0002040127</issuerCik>
        <issuerName>Karman Holdings Inc.</issuerName>
        <issuerTradingSymbol>KRMN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002055575</rptOwnerCik>
            <rptOwnerName>TCFIII Spaceco SPV LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2021 MCKINNEY AVENUE, SUITE 1200</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001712547</rptOwnerCik>
            <rptOwnerName>Trive Capital Fund III LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2021 MCKINNEY AVENUE, SUITE 1200</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>true</isOther>
            <otherText>Former 10% holder</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001712546</rptOwnerCik>
            <rptOwnerName>Trive Capital Fund III-A LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2021 MCKINNEY AVENUE, SUITE 1200</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>true</isOther>
            <otherText>Former 10% holder</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-07-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>23623968</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>49.00</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50450859</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-07-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50450859</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On July 25, 2025, TCFIII Spaceco SPV LP sold 20,473,968 shares of Common Stock at a price of $49.00, before deducting underwriting discounts and commissions, in connection with a registered underwritten offering and granted the underwriters a standard overallotment option for an additional 3,150,000 shares, which overallotment was exercised in full (such sale in the registered underwritten offering and overallotment option, collectively the &quot;Secondary Offering&quot;). Concurrent with the consummation of the Secondary Offering (the &quot;Distribution Date&quot;), TCFIII Spaceco SPV LP effected a distribution in-kind consisting of all shares of Common Stock held by TCFIII Spaceco SPV LP not sold in the Secondary Offering (the &quot;Trive LP Distribution&quot;) to Trive Capital Fund III LP (&quot;Trive Fund III&quot;) and Trive Capital Fund III-A LP (&quot;Trive Fund III-A&quot;) for no consideration and Trive Fund III and</footnote>
        <footnote id="F2">(Continued from footnote 1) Trive Fund III-A effected a pro rata distribution-in-kind of such shares of Common Stock to its partners for no consideration. If requested by any limited partner of Trive Fund III (each, a &quot;Trive LP&quot;) in connection with the Trive LP Distribution, TCFIII Spaceco SPV LP may continue to manage the shares for such Trive LP following the Trive LP Distribution (and, as a result, TCFIII SpaceCo SPV LP may continue to have voting and dispositive power over such shares). As of the Distribution Date, TCFIII Spaceco SPV LP has no pecuniary interest in any shares of Common Stock.</footnote>
        <footnote id="F3">Shares reported herein are directly held by TCFIII Spaceco SPV LP. Trive Capital Holdings LLC (which we refer to as &quot;Trive Holdings&quot;) ultimately has voting control over TCFIII Spaceco SPV LP. Each of Messrs. Conner Searcy and Christopher Zugaro, as a manager of Trive Holdings, has voting control over Trive Holdings. As a result of the foregoing, each of Mr. Searcy, Mr. Zugaro,</footnote>
        <footnote id="F4">(Continued from footnote 3) and Trive Holdings may be deemed to have beneficial ownership (as determined under Section 13(d) of the Exchange Act) of the securities directly held by TCFIII Spaceco SPV LP. Each of Trive Holdings and Messrs. Searcy and Zugaro disclaims beneficial ownership of any shares owned by TCFIII Spaceco SPV LP, except to the extent of its or his pecuniary interest therein. David Stinnett, a Partner of Trive Capital Management LLC, serves on the Board of Directors of the Issuer (the &quot;Board&quot;), together with John Hamilton, a Vice President of Trive Capital Management LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>TCFIII Spaceco SPV LP, By: Trive Capital Fund III GP LLC, its general partner and Trive Capital Holdings LLC, its managing member, By: /s/ Conner Searcy, Managing Partner</signatureName>
        <signatureDate>2025-07-29</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Trive Capital Fund III LP, By: Trive Capital Fund III GP LLC, its general partner and Trive Capital Holdings LLC, its managing member,  By: /s/ Conner Searcy, Managing Partner</signatureName>
        <signatureDate>2025-07-29</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Trive Capital Fund III-A LP, By: Trive Capital Fund III GP LLC, its general partner and Trive Capital Holdings LLC, its managing member,  By: /s/ Conner Searcy, Managing Partner</signatureName>
        <signatureDate>2025-07-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
