Firefly Aerospace Ups IPO Price Range to $41-$43

Firefly Aerospace has increased the proposed price range for its initial public offering to $41 to $43, up from the earlier range of $35 to $39. The space startup plans to offer shares in the IPO.

Firefly Aerospace, a leading space and defense technology company, has increased the proposed price range for its initial public offering (IPO) to $41-$43 per share, up from the earlier range of $35-$39. The company, based in Cedar Park, Texas, is planning to offer 16.2 million shares [2]. The updated IPO price range reflects the growing confidence in the company's long-term potential and the increasing demand for space technology.

The revised IPO price range could raise gross proceeds of $654.8 million-$697.8 million before underwriting expenses, according to the updated prospectus filed on Monday. This would give the company a market capitalization of approximately $6.3 billion at the top end of the expected price range [1]. The company's underwriters include Goldman Sachs & Co. LLC, Jefferies LLC, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC [2].

Firefly's financial performance has been impressive, with revenue soaring 572% year over year to $55.9 million in the first quarter of 2025. However, the company reported a net loss of $60.8 million in the same period [1]. Despite the losses, the company's gross profit improved to $2.22 million, indicating a significant turnaround from a $2 million gross loss in the first quarter of the previous year.

The company's growth is driven by its mission to enable responsive, regular, and reliable launch, transit, and operations in space for its customers. Firefly's class-leading launch vehicles and dynamic spacecraft solutions support critical customer missions across the space domain [2].

Firefly's IPO is scheduled for August 7, 2025, under the symbol "FLY" [2]. The company is backed by AE Industrial Partners, a PE firm that invested in Firefly in 2022 and will retain a roughly 41% stake in the company after the IPO [1].

The increased IPO price range is a sign of the growing interest and confidence in the space technology sector. Defense budgets are surging amid rising geopolitical tensions, creating a steady pipeline of government contracts for dual-use and space technologies [1]. Startups like Firefly are seen as a promising alternative to traditional primes, offering faster, cheaper, and more innovative solutions.

References:
[1] https://www.morningstar.com/stocks/pe-backed-firefly-aerospace-seeks-55b-ipo-valuation-space-tech-heats-up
[2] https://www.ainvest.com/news/ipo-preview-firefly-aerospace-listed-8-7-2025-2508/