Firefly Aerospace Announces Pricing of Upsized Initial Public Offering

Rhea-AI Summary

Firefly Aerospace (NASDAQ:FLY) has announced the pricing of its upsized initial public offering, offering 19,296,000 shares of common stock at $45.00 per share. The company has also granted underwriters a 30-day option to purchase an additional 2,894,400 shares.

Trading is expected to commence on August 7, 2025, on the Nasdaq Global Market under the ticker symbol "FLY". The offering is anticipated to close on August 8, 2025. The company plans to use the proceeds 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, with Morgan Stanley, Deutsche Bank Securities, and Cantor acting as joint bookrunners.

Positive

• Successful upsizing of IPO indicates strong market demand
• Prestigious group of underwriters including Goldman Sachs and J.P. Morgan
• Strategic use of proceeds to reduce debt and strengthen balance sheet

Negative

• Potential dilution for existing shareholders
• Market volatility risks associated with newly public companies
• Outstanding preferred stock dividends requiring immediate payment

Insights

IPO Specialist

Firefly Aerospace priced its upsized IPO at $45.00 per share, raising approximately $868.3 million before underwriter options.

Firefly Aerospace has successfully priced its initial public offering at $45.00 per share, with an upsized offering of 19,296,000 shares. This pricing indicates strong market demand, allowing the company to raise approximately $868.3 million in gross proceeds. The company has also granted underwriters a 30-day option to purchase up to 2,894,400 additional shares, which could bring total proceeds to nearly $1 billion if fully exercised.

The space and defense technology company has assembled an impressive consortium of underwriters, with Goldman Sachs, J.P. Morgan, Jefferies, and Wells Fargo Securities serving as lead bookrunning managers. This high-caliber banking support suggests institutional confidence in Firefly's business model and growth prospects.

Firefly's decision to allocate proceeds toward debt repayment should strengthen its balance sheet, while the listing on Nasdaq under ticker symbol "FLY" provides liquidity for existing shareholders and access to public capital markets for future growth initiatives. The company's self-description as a "market leading space and defense technology company" positions it in two high-growth sectors with significant government contracting opportunities.

This IPO represents a significant milestone in the commercialization of the space industry, as investors gain another pure-play opportunity in the expanding space economy beyond established players. The pricing at $45.00 per share provides a clear initial valuation benchmark for this emerging player in the increasingly competitive space launch and defense technology markets.

CEDAR PARK, Texas, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Firefly Aerospace, a market leading space and defense technology company, today announced the pricing of its upsized initial public offering of 19,296,000 shares of its common stock at a public offering price of $45.00 per share. In addition, Firefly has granted the underwriters a 30-day option to purchase an additional 2,894,400 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on Nasdaq Global Market on August 7, 2025 under the ticker symbol “FLY,” and the offering is expected to close on August 8, 2025, subject to customary closing conditions.

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.

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

The offering is being made only by means of a prospectus. When available, a copy of the final prospectus related to this 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, and declared effective by, the U.S. Securities and Exchange Commission. 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.

Forward-Looking Statements
This press release contains “forward-looking statements,” including statements regarding Firefly’s initial public offering. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “expects,” “plans,” “anticipates,” “could,” “would,” “intends,” “believes,” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. These statements are based on management’s current expectations, assumptions, and beliefs concerning future developments, which are inherently subject to uncertainties, risks, and changes in circumstances that are difficult to predict. Therefore, we cannot assure you that the events reflected in the forward-looking statements will occur, and actual events could differ materially from those described in the forward-looking statements. Any forward-looking statement speaks only as of the date as of which such statement is made, and except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.

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/a7254dfe-b688-445c-8474-d1ff3f2f2c1f

FAQ

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

Firefly Aerospace has priced its IPO at $45.00 per share, with an offering of 19,296,000 shares of common stock.

When will Firefly Aerospace (FLY) start trading on Nasdaq?

Firefly Aerospace shares are expected to begin trading on the Nasdaq Global Market on August 7, 2025 under the ticker symbol 'FLY'.

How many shares is Firefly Aerospace (FLY) offering in its IPO?

Firefly is offering 19,296,000 shares with an additional 30-day option for underwriters to purchase up to 2,894,400 additional shares.

What will Firefly Aerospace use the IPO proceeds for?

The proceeds will be used 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.