Table of Contents As filed with the Securities and Exchange Commission on January 23, 2026. No. 333-291581 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Yellowstone Midco Holdings II, LLC to be converted as described herein to a corporation named York Space Systems Inc. (Exact name of registrant as specified in its charter) Delaware 3761 39-4190941 (State or other jurisdiction of incorporation or or ...

Group 1: IPO Market Overview - Last week, two companies and six SPACs completed IPO pricing, indicating a slow IPO market with only two traditional IPOs [1] - BitGo (BTGO) priced its IPO above the expected range, raising $213 million with a market cap of $2.24 billion, but saw a significant drop of 19% in its closing price [1] - EquipmentShare.com (EQPT) raised $747 million at a market cap of $6.72 billion, with a first-day return of 33% [1] Group 2: SPAC Activity - The remaining IPOs were all SPACs, with Helix Acquisition III (HLXC) and Archimedes Tech SPAC Partners III (ARCIU) expanding their issuance sizes [2] - Other newly listed SPACs included Legato Merger IV (LEGO.U), Aldabra 4 Liquidity (ALOVU), Praetorian Acquisition (PTORU), and X3 Acquisition (XCBEU) [2] Group 3: Upcoming IPOs - Four companies are set to go public in the upcoming week, including York Space Systems (YSS), which plans to raise $512 million with a market cap of $4 billion [5] - PicS (PICS) aims to raise $400 million with a market cap of $2.3 billion, providing digital financial services in Brazil [6] - Ethos Technologies (LIFE) plans to raise $200 million with a market cap of $1.31 billion, focusing on life insurance services [7] - Public Policy Holding Company (PPHC) intends to raise $58 million with a market cap of $418 million, offering government relations and consulting services [7]

Summary of Key Points Core Viewpoint - The article discusses recent IPO activities, highlighting eight new stocks that went public, including six SPACs, and outlines upcoming IPO plans for four companies in early 2026. Group 1: Recent IPOs - Eight new stocks were listed last week, with six being SPACs [1] - BitGo (BTGO) raised $223 million by issuing 11.82 million shares at $18 per share [1] - EquipmentShare (EQPT) raised $747 million by issuing 30.5 million shares at $24.5 per share [1] - Other SPACs raised amounts ranging from $150 million to $261 million [1] - Ten companies submitted IPO applications, including two from China [1] Group 2: Upcoming IPOs - Four companies plan to go public in January 2026 [1] - Public Policy Holding Company, Inc. plans to list on NASDAQ under the ticker PPHC, aiming to raise $55.82 million by issuing 4.15 million shares at $13.45 each [2][3] - Picpay Holdings Netherlands B.V. plans to list on NASDAQ under the ticker PICS, with a target of raising approximately $434 million by issuing 22.86 million shares at $16 to $19 each [4][6] - Yellowstone Midco Holdings II/York Space Systems Inc. plans to list on NYSE under the ticker YSS, aiming to raise about $544 million by issuing 16 million shares at $30 to $34 each [7][9] - Ethos Technologies Inc. plans to list on NASDAQ under the ticker LIFE, targeting approximately $211 million by issuing 10.53 million shares at $18 to $20 each [13]

Market News - On January 19, the S&P 500 futures fell by 0.88%, Dow futures dropped by 0.80%, and Nasdaq 100 futures decreased by 1.11% [1] - The ICE Dollar Index declined by 0.33%, closing at 99.065 points [1] - COMEX gold futures rose by 1.77%, ending at $4,676.70 per ounce, while silver futures increased by 6.49%, closing at $94.280 per ounce [1] - The onshore RMB against the USD closed at 6.9640, appreciating by 80 basis points from the previous trading day [1] - European stock indices closed lower, with Germany's DAX down 1.34%, France's CAC40 down 1.78%, and the UK's FTSE 100 down 0.39% [1] Industry Insights - York Space Systems plans to raise $512 million through an IPO by issuing 16 million shares, with a price range of $30 to $34 per share [2] - The satellite internet sector is projected to grow to between 200 billion to 400 billion yuan by 2030, with an annual compound growth rate of 10% to 28% [2] - The launch of 19 low-orbit satellites by China's Long March 12 rocket marks a significant step in the development of satellite internet infrastructure [3] - The Dojo 3 project by Tesla aims to enhance AI capabilities for autonomous driving, with the AI5 design expected to support more complex algorithms [5][6]

Market News - On January 19, the S&P 500 futures fell by 0.88%, Dow futures dropped by 0.80%, and Nasdaq 100 futures decreased by 1.11% [1] - The ICE Dollar Index declined by 0.33%, closing at 99.065 points [1] - COMEX gold futures rose by 1.77%, ending at $4,676.70 per ounce, while silver futures increased by 6.49%, closing at $94.280 per ounce [1] - The onshore RMB against the USD closed at 6.9640, appreciating by 80 basis points from the previous trading day [1] - European stock indices closed lower, with Germany's DAX down 1.34%, France's CAC40 down 1.78%, and the UK's FTSE 100 down 0.39% [1] Industry Insights - York Space Systems announced its IPO terms, planning to raise $512 million by issuing 16 million shares priced between $30 and $34 each [2] - The satellite internet sector is projected to grow significantly, with the satellite communication industry expected to reach a scale of 200 billion to 400 billion yuan by 2030, with an annual compound growth rate of 10% to 28% [2] - The successful launch of 19 low-orbit satellites by China's Long March 12 rocket marks a significant step in the development of satellite internet infrastructure [3] - The Dojo 3 project by Tesla aims to enhance its AI capabilities for autonomous driving, with the AI5 design expected to support more complex algorithms [5][6]

Group 1: Space and Aerospace Industry - Shenzhou 20 spacecraft successfully landed, confirming the mission's success, while Shenzhou 23 has arrived at the launch center [1] - Beijing's Fengtai District aims to exceed a trillion yuan in industrial scale by 2030, focusing on aerospace and other key sectors [2] - York Space Systems plans to raise $512 million through an IPO, pricing shares between $30 and $34, with a listing on the NYSE under the ticker "YSS" [3] - Guojin Securities recommends attention to companies involved in 3D printing for commercial aerospace, highlighting its potential as a final processing solution [4] Group 2: Economic and Industrial Growth - By 2025, China's annual production and sales of new energy vehicles are expected to surpass 16 million units, reflecting growth in the clean energy sector [6] - China's GDP is projected to exceed 140 trillion yuan in 2025, with a growth rate of 5.0%, driven by various industrial sectors [7] - The high-tech manufacturing sector is anticipated to grow by 9.4% in 2025, with significant contributions from industries like integrated circuits and aircraft manufacturing [8] Group 3: Financial Market Developments - The number of private equity firms with over 10 billion yuan in assets has reached 114, with new entrants and some exits in the sector [5] - The A-share market has seen a record high of 222 stocks priced over 100 yuan, indicating a concentration of technology companies among the top performers [9] Group 4: Green Energy Initiatives - Five government departments have issued guidelines to accelerate the transition to a green and low-carbon energy structure, promoting zero-carbon factories and renewable energy utilization [9]

Group 1 - York Space Systems, a commercial satellite manufacturer based in Denver, Colorado, announced its initial public offering (IPO) terms on January 19, planning to raise up to $512 million by issuing 16 million shares priced between $30 and $34 each [1] - The company, founded in 2012, focuses on manufacturing satellites and mission-critical systems for space and defense projects, with a projected market capitalization of approximately $4 billion at the midpoint price of $32 per share [1] - York Space Systems intends to list on the New York Stock Exchange under the ticker symbol "YSS," with joint bookrunners including Goldman Sachs, Jefferies, Wells Fargo Securities, JPMorgan, Citigroup, Truist Securities, Baird, and Raymond James [1] Group 2 - As a prime contractor in the space and defense sector, the company’s business encompasses the design, manufacturing, integration, and operation of spacecraft platforms, with a product portfolio that includes multiple satellite platform series such as S-CLASS, LX-CLASS, and M-CLASS [1] - The company ranks first in the U.S. Department of Defense's proliferated low Earth orbit satellite architecture (PWSA) project in terms of the number of operational spacecraft, contract quantity, and contract type diversity [1] - As of the announcement date, York Space Systems has recorded over 4 million hours of flight in 74 missions, possesses 17 flight-validated products, and operates more than 45 ground antennas globally [1]

Core Viewpoint - York Space Systems, a company specializing in manufacturing satellites and mission-critical systems for space and defense projects, has announced its IPO terms, aiming to raise $512 million through the issuance of 16 million shares priced between $30 and $34 each [1] Company Overview - York Space Systems is headquartered in Denver, Colorado, and was established in 2012 [1] - The company plans to list on the New York Stock Exchange under the ticker symbol "YSS" [1] IPO Details - The IPO will involve the issuance of 16 million shares [1] - The targeted fundraising amount is $512 million [1] - The price range for the shares is set between $30 and $34 [1] Underwriters - The joint book-running managers for this transaction include Goldman Sachs, Jefferies, Wells Fargo Securities, JPMorgan, Citigroup, Truist Securities, Baird, and Raymond James [1]

Core Viewpoint - York Space Systems is planning an IPO to raise $512 million by issuing 16 million shares, with a price range of $30 to $34 per share, leading to a projected market capitalization of $4 billion at the midpoint of the pricing range [1] Company Overview - York Space Systems is a contractor in the space and defense sector, specializing in the design, manufacturing, integration, and operation of spacecraft platforms [1] - The company offers a product portfolio that includes the S-CLASS, LX-CLASS, and M-CLASS series of spacecraft [1] Market Position - In the Department of Defense's PWSA project, York Space Systems ranks first in terms of the number of operational spacecraft in orbit (33), number of contracts (6), and diversity of contract types [1] - The company has recorded over 4 million orbital flight hours across 74 missions and has 17 flight-validated products [1] - York Space Systems operates over 45 ground antennas globally [1] IPO Details - The company was founded in 2012 and plans to list on the New York Stock Exchange under the ticker symbol "YSS" [1] - The joint book-running managers for the IPO include Goldman Sachs, Jefferies, Wells Fargo Securities, JPMorgan, Citigroup, Truist Securities, Baird, and Raymond James [1]

Core Viewpoint - York Space Systems has initiated a roadshow for its proposed initial public offering (IPO) of 16,000,000 shares of common stock, with an additional option for underwriters to purchase up to 2,400,000 shares [1] Company Summary - The company is positioned as a modern defense prime focused on speed and scalability [1] - The IPO price is expected to be determined, indicating a forthcoming valuation process [1]