Firefly Aerospace Targets $6 Billion Valuation Amid Space Investment Surge

Firefly Aerospace has increased its IPO price range to target a valuation of up to $6.04 billion, highlighting strong investor interest in space ventures. The company plans to sell 16.2 million shares priced between $41 and $43, aiming to raise $696.6 million.

Firefly Aerospace has adjusted its initial public offering (IPO) price range upward, aiming to reach a valuation as high as $6.04 billion. This move comes as the Texas-based space startup capitalizes on heightened investor interest in space-related ventures.

Originally, Firefly had proposed selling shares at a price between $35 and $39 each. However, the revised pricing strategy now sets the range at $41 to $43 per share.

The offering plans to raise approximately $696.6 million through the sale of 16.2 million shares. Firefly Aerospace is backed by defense contractor Northrop Grumman, further demonstrating confidence in its strategic direction and potential growth within the sector.

(With inputs from agencies.)