Latest news with #FireflyAerospace
Fast Company
13 hours ago
- Business
- Fast Company
Firefly Aerospace reveals target pricing as proposed IPO and stock listing date nears
Firefly Aerospace, the first commercial company to successfully land on the moon, just announced the target per-share pricing for its proposed initial public offering (IPO) on the Nasdaq. In a filing with the U.S. Securities and Exchange Commission (SEC) today, the Texas-based company shared that it applied to the Nasdaq with an offer of 16.2 million shares of common stock, each priced between $35 and $39 per share—a launch that could raise as much as $631.8 million for Firefly. The company plans to trade its stock under the ticker symbol 'FLY.' According to Firefly, net proceeds from the IPO would be used 'to repay outstanding borrowings under its credit agreement, pay any accrued and unpaid dividends on certain series of its preferred stock, and for general corporate purposes.' If the IPO is approved by the Nasdaq, it will be the latest in a series of tech-focused listings that have drawn renewed investor interest this year, a group that includes fintech company Chime, stablecoin issuer Circle, and digital health platform Hinge Health. Firefly has not announced an expected date for the listing, but said in a press release on Monday that it has launched its 'roadshow.' Fast Company has reached out for more information on the timing. What is Firefly Aerospace? Firefly Aerospace is a private company focusing on building small- to medium-lift launch vehicles, lunar landers, and orbital vehicles from its headquarters in Cedar Park, Texas. Its proposed IPO comes just months after the company landed on the moon for the first time through a partnership with NASA. The Blue Ghost Lunar Lander Mission 1, dubbed 'Ghost Rider in the Sky,' was a collaboration between Firefly and NASA's Commercial Lunar Payload Services (CLPS) initiative, which offers fixed contracts to commercial partners. In all, CLPS awarded Firefly $101 million to craft a four-legged lander that could deliver 10 NASA payloads (weighing 340 pounds) to the moon's surface. These payloads were designed to study topics like the behavior of lunar dust, the moon's internal structure, and Earth's magnetosphere. The mission launched on January 15 and successfully touched down on March 2. 'It just shows that the private industry, the commercial world, has a lot of affordable, responsive technology and systems that could provide NASA a frequent means to go to the moon and carry out all these high-stakes critical-science missions for lower cost as well as do it sustainably,' Firefly CEO Jason Kim told Fast Company in January.
CNBC
13 hours ago
- Business
- CNBC
Firefly Aerospace sets IPO range that would value rocket maker at $5.5 billion
Firefly Aerospace will price shares at $35 to $39 each in its upcoming initial public offering, a deal that would value the rocket maker at about $5.5 billion. The Texas-based space company said in an updated prospectus Monday that it's planning to sell about 16.2 million shares. The offering could raise up to $631.8 million. Earlier this month, Firefly filed its plans to go public on the Nasdaq under the ticker symbol "FLY." Its debut comes amid a renewed push in the space race, as billionaire-led companies such as Elon Musk's SpaceX funnel more money into space activities and startups try their luck at the public markets. Space tech firm Voyager went public in June, while reusable rocket developer Innovative Rocket Technologies said it plans to debut through a $400 million special purpose acquisition company merger. Firefly's public market launch also coincides with a revival in IPO activity as debilitating interest rates and an overhang from President Donald Trump's tariff plans begin to clear. Design software company Figma is slated to go public this week after raising its range. Firefly makes rockets, space tugs and lunar landers, including satellite launching rockets known as Alpha. At the end of March, the company reported a sixfold jump in revenue from $8.3 million a year ago to $55.9 million. The company also reported a net loss of about $60.1 million, up from a loss of $52.8 million a year ago, and said its backlog totaled about $1.1 billion. Some of Firefly's major backers include AE Industrial Partners, which led an early investing round in the company. Defense contractor Northrop Grumman invested $50 million in the startup this May, and Firefly says it has collaborated with Lockheed Martin, L3Harris and NASA.
Wall Street Journal
18 hours ago
- Business
- Wall Street Journal
Firefly Aerospace Sets IPO Terms That Could Push Market Cap Above $5.5 Billion
Firefly Aerospace unveiled terms of a planned initial public offering that could give the space and defense technology company a market capitalization topping $5.5 billion. Firefly on Monday said it plans to sell 16.2 million shares at between $35 and $39 apiece in the IPO.
Yahoo
20 hours ago
- Business
- Yahoo
Firefly Aerospace targets $5.5 billion valuation in US IPO
(Reuters) -Space and defense technology firm Firefly Aerospace is targeting a valuation of about $5.5 billion in its U.S. initial public offering, as investor demand for newly listed stocks shows signs of a sustained rebound. The company is aiming to sell its shares between $35 and $39 apiece to raise as much as $631.8 million, a regulatory filing showed on Monday. The U.S. IPO market is showing signs of steady recovery in 2025 after a slump of almost three years, as easing interest rates, improved market conditions and a backlog of high-growth companies revive investor appetite. Several notable listings, including neo-bank Chime and stablecoin issuer Circle, have rekindled optimism in recent weeks, with more firms preparing to test the waters in the second half of the year. Firefly Aerospace expects to trade on the Nasdaq under the ticker symbol 'FLY'. Goldman Sachs, J.P. Morgan, Jefferies and Wells Fargo Securities are the lead underwriters of the offering. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
20 hours ago
- Business
- Reuters
Firefly Aerospace seeks $5.5 billion valuation in IPO as US space race heats up
July 28 (Reuters) - Space technology startup Firefly Aerospace is targeting a valuation of about $5.5 billion in its U.S. initial public offering, as investor appetite for high-growth sectors shows signs of a sustained rebound. The Cedar Park, Texas-based company is aiming to sell its shares between $35 and $39 apiece to raise as much as $631.8 million, a regulatory filing showed on Monday. The U.S. IPO market is showing signs of steady recovery in 2025 after a slump of almost three years, as easing interest rates, improved market conditions and a backlog of high-growth companies revive investor interest. Several notable listings, including neo-bank Chime (CHYM.O), opens new tab and stablecoin issuer Circle (CRCL.N), opens new tab, have rekindled optimism in recent weeks, with more firms preparing to test the waters in the second half of the year. Several billionaires and private firms are fueling a new space race in the U.S., pouring money into rockets, satellites and lunar missions, including Elon Musk's SpaceX and Jeff Bezos' Blue Origin. With NASA relying more on commercial partnerships and defense spending rising, the space industry is rapidly becoming a high-stakes arena for technological dominance, national security and economic opportunity. Space startups continued to draw investor dollars in the April-June period, which was the second-strongest quarter on record for funding, an industry report showed earlier this month. Firefly Aerospace succeeded in its first attempt to land on the moon in March with its uncrewed Blue Ghost spacecraft. It expects the Blue Ghost lander to fly annual missions to the moon. The company notched a valuation of over $2 billion in a November 2024 funding round, when it had raised $175 million. It will trade on the Nasdaq under the ticker symbol 'FLY' after the IPO closes. Goldman Sachs, J.P. Morgan, Jefferies and Wells Fargo Securities are the lead underwriters.
