Firefly Aerospace, which provides space and defense technology with launch vehicles and spacecraft, raised $868 million by offering 19.3 million shares at $45, above the upwardly revised range of $41 to $43. The company had originally planned to offer 16.2 million shares at a range of $35 to $39.
Firefly Aerospace is a space and defense technology company that provides comprehensive mission solutions to national security, government, and commercial customers. The company's platform includes Launch and Spacecraft Solutions. Within Launch, Firefly has two offerings: Alpha, its operational launch vehicle that has completed four launches successfully; and Eclipse, a reusable and scaled up version of Alpha, which is in final development in partnership with Northrop Grumman and is expected to launch as early as 2026. Its Spacecraft Solutions include Blue Ghost Lander and Elytra.
Two other space and defense companies, Voyager Technologies (VOYG) and Karman (KRMN), have returned 14.2% and 120.9%, respectively, from their 2025 IPOs.
Firefly Aerospace plans to list on the Nasdaq under the symbol FLY. Goldman Sachs, J.P. Morgan, Jefferies, Wells Fargo Securities, Morgan Stanley, Deutsche Bank, and Cantor Fitzgerald acted as joint bookrunners on the deal.
