Firefly Aerospace prices upsized IPO at $45 per share

CEDAR PARK, Texas - Space and defense technology company Firefly Aerospace announced Wednesday it has priced its upsized initial public offering at $45 per share, offering 19,296,000 shares of common stock. According to InvestingPro data, the company generated revenue of $108.33 million in the last twelve months, though it faces profitability challenges with an EBITDA of -$202.07 million.

The company is expected to begin trading on the Nasdaq Global Market on Thursday under the ticker symbol "FLY," with the offering scheduled to close on August 8, 2025, subject to customary closing conditions.

Firefly has granted underwriters a 30-day option to purchase an additional 2,894,400 shares at the initial offering price, less underwriting discounts and commissions.

The company plans to use the net proceeds to repay outstanding borrowings under its credit agreement, pay accrued and unpaid dividends on certain series of preferred stock, and for general corporate purposes. InvestingPro data shows the company carries total debt of $167.15 million, highlighting the importance of this capital raise for debt reduction.

Goldman Sachs & Co. LLC, J.P. Morgan, Jefferies, and Wells Fargo Securities are serving as lead bookrunning managers for the offering, with Morgan Stanley, Deutsche Bank Securities, and Cantor acting as joint bookrunners. Roth Capital Partners and Academy Securities are co-managers.

Established in 2017, Firefly Aerospace provides space launch and lunar landing capabilities for government and commercial customers. The company claims to be the only commercial entity to have launched a satellite to orbit with approximately 24-hour notice and to have achieved a successful Moon landing.

The offering is being made only by means of a prospectus, according to the company’s press release statement.

In other recent news, Firefly Aerospace has secured a significant $176.7 million contract from NASA under the Commercial Lunar Payload Services program. This contract involves delivering five NASA-sponsored payloads to the Moon’s south pole in 2029, utilizing Firefly’s Elytra orbital vehicle and Blue Ghost lunar lander. The mission aims to evaluate lunar resources and study conditions that could affect future astronauts and infrastructure. Additionally, Firefly Aerospace has launched its initial public offering (IPO) roadshow, with plans to offer 16.2 million shares priced between $35 and $39 each. The company has applied to list on the Nasdaq Global Market under the ticker symbol "FLY." Firefly also intends to provide underwriters with a 30-day option to purchase an additional 2.43 million shares at the initial offering price. These developments highlight Firefly Aerospace’s expanding role in space exploration and its move towards public trading.

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