Firefly Aerospace IPO: Space Startup Aims For $5.5B Valuation As Market Debut Nears

Firefly Aerospace is gearing up for a $5.5 billion initial public offering on the Nasdaq stock exchange, according to a regulatory filing by the company.

The Texas-based space and defense technology startup is aiming to raise nearly $632 million in funds through the IPO, with shares expected to be priced in the range of $35 to $39 each.

This comes after recent IPOs brought back some enthusiasm in the markets – some of the companies that debuted recently include Circle Internet Group (CRCL) and Chyme Financial Inc. (CHYM), among others.

Firefly Aerospace will trade on the Nasdaq under the symbol ‘FLY’.

Lead underwriters of the Firefly IPO include Goldman Sachs, JP Morgan Chase, and Wells Fargo Securities, according to the company’s regulatory filing.

While 16.2 million shares of Firefly will be offered for subscription during the IPO, underwriters will have a 30-day option to subscribe to an additional 2.43 million shares at the IPO price.

Founded in 2017, Firefly Aerospace makes small- to medium-lift launch vehicles, orbital vehicles, and lunar landers. It claims it can launch satellites into orbit within 24 hours' notice.

According to the company’s S-1 filing, it had $176.9 million in cash and cash equivalents at the end of March. Its debt stood at $173.6 million, of which $136.1 million was via a term loan.

The company cited its partnership with SpaceX as one of its competitive strengths. It has also teamed up with Blue Origin's subsidiary to procure a rover that will accompany its lunar lander on an upcoming NASA mission.

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