Firefly Aerospace seeks to raise more than $600 million through a public stock offering, an arrangement that would boost the company's market valuation to near $5.5 billion, according to a document filed with the SEC on Monday.
The launch of Firefly's Initial Public Offering (IPO) comes as the company works to build on a historic success in March, when Firefly's Blue Ghost lander touched down on the surface of the Moon. Firefly plans to sell 16.2 million shares of common stock, at a price of between $35 and $39 per share. Under those terms, Firefly could raise up to $631.8 million on the public market.
Firefly has applied to list its common stock on the Nasdaq Global Market under the ticker symbol "FLY."
In a statement, Firefly said it will use the funds to pay off a "substantial" amount of debt, support dividend payments, and "for general corporate purposes." Firefly's general corporate purposes include a spectrum of activities, and some are going better than others.
A mixed record
Blue Ghost became the first privately-owned spacecraft to pull off a fully successful landing on another world, fulfilling a $101.5 million contract from NASA to deliver a suite of scientific and tech demo experiments to the Moon. Firefly has received orders from NASA for two more lunar missions using the Blue Ghost platform, and the company is positioned to win more after completing its first Moon landing earlier this year.
A camera on Firefly's Blue Ghost lander captured a view of its shadow after touching down on the Moon just after local sunrise on March 2, 2025. Earth looms over the horizon. Credit: Firefly Aerospace
Meanwhile, Firefly has struggled to build a reliable track record for its small Alpha launch vehicle, a rocket capable of placing more than a metric ton of payload into low-Earth orbit. In six launches since 2021, the Alpha rocket has logged two successful flights, two partial failures that ended up in the wrong orbit, and two missions that failed to reach orbit at all.