Firefly Aerospace Sets IPO Price at $35 to $39 per Share, Valuing Company at $5.5 Billion

Firefly Aerospace has set the price of its IPO at $35 to $39 per share, valuing the company at $5.5 billion. The Texas-based space company plans to sell 16.2 million shares and raise up to $631.8 million in capital. Firefly Aerospace makes rockets, lunar landers, and satellite-launching rockets, with customers including Lockheed Martin, L3Harris, and NASA. The company is not yet profitable but has a $1.1 billion order backlog.

Firefly Aerospace, a Texas-based rocket maker, has set the price range for its initial public offering (IPO) at $35 to $39 per share. The IPO, which is expected to raise up to $631.8 million, will value the company at approximately $5.5 billion [1]. The company plans to sell 16.2 million shares and trade on the Nasdaq under the ticker symbol "FLY."

Firefly Aerospace specializes in the development of small- to medium-lift launch vehicles, lunar landers, and orbital vehicles. The company's recent success includes becoming the first commercial company to successfully land on the moon in March 2025 [2]. This achievement was part of a collaboration with NASA's Commercial Lunar Payload Services (CLPS) initiative.

Despite not being profitable, Firefly Aerospace reported a significant backlog of $1.1 billion in its latest filings, indicating strong demand for its services. The company's revenue has been growing, with $55.9 million reported at the end of March 2025, up from $8.3 million a year ago [1]. However, the company has also reported net losses, with a net loss of about $60.1 million in the first quarter of 2025 [1].

Firefly Aerospace has drawn significant investment from various backers, including AE Industrial Partners, Northrop Grumman, Lockheed Martin, and L3Harris [1]. The company's IPO comes amid a resurgence in deal activity and increased interest in the space race [1].

The IPO will be used to repay outstanding borrowings, pay accrued and unpaid dividends on certain series of preferred stock, and for general corporate purposes [2]. The company has not yet announced an expected date for the listing, but it has launched its roadshow [2].

References:
[1] https://www.cnbc.com/2025/07/28/firefly-aerospace-ipo-space.html
[2] https://www.fastcompany.com/91375640/firefly-aerospace-ipo-date-stock-listing-nears-target-share-price