Firefly Aerospace raises $868 million in US IPO
Firefly Aerospace just pulled off the largest US listing this year by a space tech company, raising $868 million by selling more than 19 million shares at $45 each.
Now trading on Nasdaq as FLY, the Texas-based company got a major boost from big-name banks like Goldman Sachs and J.P. Morgan.
Who is Firefly Aerospace?
Based in Cedar Park, Texas since 2017, Firefly builds rockets and lunar landers designed to be more affordable and flexible than most.
Their Blue Ghost lander made headlines by delivering NASA payloads to the moon—a pretty huge win.
They're also known for launching satellites fast—sometimes within just 24 hours.
Financials and future plans
Firefly's revenue grew to $61 million last year, but heavy investment in new tech pushed net losses to $231 million.
With over $1 billion in orders lined up and backing from Northrop Grumman, they're aiming to stand out against giants like SpaceX by offering quick-turn launches for both commercial and defense projects.