FLY Stock Is Surging Today — A NASA Connection Is Driving It

• Firefly Aerospace said it has won a NASA subcontract to deliver four drones to the Moon’s South Pole under the MoonFall mission.
• MoonFall is part of NASA’s Moon Base initiative to support long-term lunar exploration and activity.
• Firefly Aerospace also announced a public offering of its common stock involving both the company and certain selling stockholders.

Shares of Firefly Aerospace (FLY) surged on Tuesday, after the company announced that it has won a $75-million NASA JPL MoonFall subcontract to deliver four drones to the Moon’s South Pole.

The FLY stock jumped over 20% following the announcement. 

FLY Selected To Build MoonFall Spacecraft

NASA shared new updates on MoonFall during a Moon Base event on Tuesday at its headquarters in Washington. The mission will send four drones to make short hops across the lunar surface while surveying potential landing sites for Artemis astronauts.

NASA’s Jet Propulsion Laboratory (JPL) is building the drones. Firefly’s Elytra spacecraft will carry the drones on a 45-day journey to the Moon, enter lunar orbit, and then deorbit to release them about 50 km above the lunar south pole after a braking maneuver.

The drones will independently land on the lunar surface and gather high-resolution imagery of hard-to-reach terrain over a single lunar day.

FLY Launches Share Public Offering

Firefly Aerospace also announced a public offering of its common stock, consisting of four million shares from the company and eight million shares from existing selling stockholders, under a Form S-1 registration filed with the SEC.

The company plans to use its proceeds for general corporate purposes, including funding growth in its core business and recently awarded programs and initiatives, while it will not receive any proceeds from shares sold by the selling stockholders.

Goldman Sachs, JP Morgan, Jefferies and Wells Fargo Securities are serving as lead book-running managers for the offering. 

FLY Stock: What Stocktwits Retail Sentiment Says

On Stocktwits, retail sentiment for the FLY stock has shifted to “Extremely Bullish” from “Bullish” in the past 24 hours. Message volume was “high” and it has remained the same over the past one day.

The FLY Stock has surged nearly 157% year-to-date.

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