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13h ago

Firefly Aerospace Opens at $70 in Nasdaq Debut Following $868 Million IPO

Investors valued Firefly close to $10 billion in its Nasdaq debut, with IPO proceeds set to expand production, reduce debt, fund upcoming space missions, from lunar landings to orbital services.

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CEO Jason Kim at the Firefly Aerospace mission operations center in Leander, Texas, in July.
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Overview

  • Firefly priced its IPO at $45 per share, topping its upsized range of $41 to $43 to raise $868 million.
  • AE Industrial Partners’ ownership stake fell from 50% to roughly 41.8%, with existing agreements preserving its board voting control.
  • The company reported net losses of $231 million in 2024 and $60 million in the first quarter of 2025, according to SEC filings.
  • As of March 31, Firefly maintained a $1.1 billion backlog across more than 30 launches under contract and secured a $176.7 million NASA moon payload award.
  • IPO proceeds will support scaling up production, reducing debt and funding planned lunar and orbital missions.