Firefly Aerospace Announces Launch of Initial Public Offering

Rhea-AI Summary

Firefly Aerospace has announced the launch of its Initial Public Offering (IPO) with plans to offer 16.2 million shares of common stock. The company expects the IPO price to range between $35.00 and $39.00 per share, with an additional 30-day option for underwriters to purchase up to 2.43 million shares.

The space and defense technology company plans to list on the Nasdaq Global Market under the symbol "FLY". The IPO proceeds will be used to repay outstanding borrowings, pay preferred stock dividends, and for general corporate purposes. Goldman Sachs, J.P. Morgan, Jefferies, and Wells Fargo Securities are serving as lead bookrunning managers for the offering.

Positive

• None.

Negative

• Existing debt burden requiring IPO proceeds for repayment
• Outstanding preferred stock dividends to be paid from proceeds
• Potential dilution for existing shareholders

Insights

IPO and Capital Markets Specialist

Firefly Aerospace launches IPO targeting $616-686M valuation, offering 16.2M shares at $35-39 with proceeds addressing debt and providing growth capital.

Firefly Aerospace, a space and defense technology company, has officially launched its roadshow for an initial public offering of 16,200,000 shares. The company has set a price range of $35.00 to $39.00 per share, which would value the offering between $567 million and $631.8 million at the proposed range. When including the underwriters' option to purchase an additional 2,430,000 shares, the total potential offering size increases to approximately $616 million to $686 million.

The company plans to list on the Nasdaq Global Market under the ticker symbol "FLY." The IPO is backed by a strong syndicate of underwriters including Goldman Sachs, J.P. Morgan, Jefferies, and Wells Fargo Securities as lead bookrunners, with Morgan Stanley, Deutsche Bank Securities, and Cantor serving as joint bookrunners.

Firefly's planned use of proceeds reveals key financial priorities: repaying outstanding credit agreement borrowings, settling accrued preferred stock dividends, and funding general corporate purposes. This allocation suggests the company is using this capital raise to strengthen its balance sheet while retaining flexibility for operational growth.

This IPO represents a significant milestone for the commercial space sector, potentially providing public market investors with another pure-play opportunity in the growing space and defense technology market. The registration statement has been filed with the SEC but remains pending effectiveness, meaning the offering is still in process with final terms subject to market conditions.

CEDAR PARK, Texas, July 28, 2025 (GLOBE NEWSWIRE) -- Firefly Aerospace, a market leading space and defense technology company, today announced that it has launched the roadshow for its proposed initial public offering of 16,200,000 shares of its common stock. In addition, Firefly intends to grant the underwriters a 30-day option to purchase an additional 2,430,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $35.00 and $39.00 per share.

Firefly intends to use its net proceeds from this offering to repay outstanding borrowings under its credit agreement, pay any accrued and unpaid dividends on certain series of its preferred stock, and for general corporate purposes.

Firefly has applied to list its common stock on the Nasdaq Global Market under the ticker symbol “FLY.”

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

The proposed offering is being made only by means of a prospectus. When available, a copy of the preliminary prospectus related to this proposed offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, by facsimile at 212-902-9316 or by email at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com or Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, by telephone at 800-645-3751 (option #5) or by email at WFScustomerservice@wellsfargo.com.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Firefly Aerospace
Firefly Aerospace is a space and defense technology company that enables government and commercial customers to launch, land, and operate in space – anywhere, anytime. As the partner of choice for responsive space missions, Firefly is the only commercial company to launch a satellite to orbit with approximately 24-hour notice. Firefly is also the only company to achieve a fully successful landing on the Moon. Established in 2017, Firefly’s engineering, manufacturing, and test facilities are co-located in central Texas to enable rapid innovation. The company’s small- to medium-lift launch vehicles, lunar landers, and orbital vehicles are built with common flight-proven technologies to enable speed, reliability, and cost efficiencies for each mission from low Earth orbit to the Moon and beyond.

Contacts

Media Relations
press@fireflyspace.com

Investor Relations
investors@fireflyspace.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bebcfc9a-23f6-4318-9bc0-0fdd70eb4467

FAQ

What is the expected IPO price range for Firefly Aerospace (FLY) stock?

Firefly Aerospace has set an initial public offering price range of $35.00 to $39.00 per share.

How many shares will Firefly Aerospace (FLY) offer in its IPO?

Firefly Aerospace plans to offer 16.2 million shares of common stock, with an additional 30-day option for underwriters to purchase up to 2.43 million shares.

What stock exchange will Firefly Aerospace (FLY) list on?

Firefly Aerospace has applied to list its common stock on the Nasdaq Global Market under the ticker symbol FLY.

How will Firefly Aerospace use its IPO proceeds?

The company will use the proceeds to repay outstanding borrowings under its credit agreement, pay preferred stock dividends, and for general corporate purposes.

Who are the lead underwriters for Firefly Aerospace's IPO?

The lead bookrunning managers are Goldman Sachs, J.P. Morgan, Jefferies, and Wells Fargo Securities.