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Firefly Aerospace Sets IPO Price Range, Valuing Rocket Maker at Up to $5.5 Billion
Texas-based Firefly Aerospace has announced its pricing for its upcoming initial public offering (IPO), wiht shares expected to range between $35 and $39 each. This offering coudl value the rocket manufacturer at approximately $5.5 billion.
In an updated prospectus filed on Monday,the space company revealed its intention to sell around 16.2 million shares. The transaction has the potential to raise as much as $631.8 million. earlier this month, Firefly submitted its plans to list on the NASDAQ under the ticker symbol “Fly.”
The company’s public debut arrives amidst increasing competition in the space sector,with privately held,billionaire-backed entities like Elon Musk’s SpaceX channeling meaningful capital into space exploration and achieving successes in public markets. this trend is mirrored by other space technology firms; Voyager went public in June, and reusable rocket developer Relativity Space has announced plans for a public listing via a $400 million special purpose acquisition company (SPAC) merger.
Firefly’s move to the public markets also coincides with a broader resurgence in IPO activity, as market conditions improve with the easing of debt interest rates and the dissipation of uncertainties related to former President Donald Trump’s tariff policies.Design software firm Figma is also slated for its public debut this week,having already increased its initial price range.
Firefly Aerospace’s product portfolio includes rockets, space tugs, and lunar landers, notably its satellite launch vehicle known as Alpha.As of the end of March,the company reported a ample revenue increase,growing sixfold from $8.3 million in the prior year to $55.9 million.
However, the company also reported a net loss of approximately $60.1 million, an increase from the $52.8 million loss recorded a year earlier. Firefly’s balance sheet stood at roughly $1.1 billion.
Among Firefly’s significant investors are AE Industrial Partners, which spearheaded an early funding round. Defense contractor Northrop Grumman invested $50 million in the startup in May of this year. Firefly also indicated that it is collaborating with Lockheed Martin and L3Harris.
Watch: Firefly’s ambitious plan to become the next SpaceX.
