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CEDAR PARK, Texas - Space and defense technology company Firefly Aerospace, currently valued at approximately $3.8 billion, announced Monday the launch of its initial public offering roadshow, with plans to offer 16.2 million shares of common stock priced between $35 and $39 per share.
The Texas-based company has applied to list on the Nasdaq Global Market under the ticker symbol "FLY" and intends to grant underwriters a 30-day option to purchase an additional 2.43 million shares at the initial offering price. InvestingPro subscribers gain access to comprehensive IPO analysis tools and real-time valuation metrics to make informed investment decisions.
Firefly plans to use the proceeds to repay outstanding borrowings under its credit agreement, pay accrued dividends on certain preferred stock series, and for general corporate purposes, according to the company’s press release statement.
Goldman Sachs & Co. LLC, J.P. Morgan, Jefferies, and Wells Fargo Securities are serving as lead bookrunning managers for the offering. Morgan Stanley, Deutsche Bank Securities, and Cantor will act as joint bookrunners, while Roth Capital Partners and Academy Securities will serve as co-managers.
Established in 2017, Firefly Aerospace specializes in small- to medium-lift launch vehicles, lunar landers, and orbital vehicles. The company, which generated revenue of $351.84 million in the last twelve months with an impressive 82.31% gross profit margin, claims it can launch satellites to orbit with approximately 24-hour notice and reports it has achieved a successful lunar landing. The company’s revenue has shown steady growth at 3.08% year-over-year.
The registration statement for the offering has been filed with the U.S. Securities and Exchange Commission but has not yet become effective, meaning the securities cannot be sold until the registration becomes effective.
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