Karman Holdings Inc. shares rise 1.85% premarket after Firefly Aerospace's successful $868 million IPO.

Karman Holdings Inc. rose 1.85% in premarket trading. The increase in stock price can be attributed to the successful IPO of Firefly Aerospace, a space technology startup backed by Northrop Grumman. Firefly Aerospace raised $868.3 million by selling 19.3 million shares at $45 per share, indicating strong investor demand. The company's successful landing of its uncrewed Blue Ghost spacecraft on the moon has attracted significant attention in the rapidly growing commercial space industry.