The company said it has priced its IPO at $45 per share, exceeding the $41-$43 price range communicated earlier.
Firfly Aerospace (FLY) garnered retail attention on Wednesday after the company raised $868 million from an upsized initial public offering.
The company said it has priced its IPO at $45 per share, exceeding the $41-$43 price range communicated by the firm in an amended S-1 filing earlier. It initially marketed its shares between $35 and $39 per share.
Firefly said that it has sold nearly 19.3 million shares in the offering. The IPO price values it at $6.5 billion, according to its outstanding shares revealed at the filing with the Securities and Exchange Commission. The stock will debut on Thursday on the Nasdaq with the ticker “FLY.”
The company manufactures lunar landers, rockets, and other space technologies. It claims it can launch satellites into orbit within 24 hours’ notice. Earlier this year, the company successfully landed its lunar lander Blue Ghost on the moon.
Retail sentiment on Stocktwits on Firefly was in the ‘extremely bullish’ territory at the time of writing.
Space stocks have garnered increased attention this year amid the tussle between SpaceX CEO Elon Musk and U.S. President Donald Trump. The U.S. government is reportedly considering other parties to reduce SpaceX’s dominance in the sector.
This year has already seen successful listings of Karman Holdings and Voyager Technologies among space firms. The IPO market has experienced a rebound in activity in recent months, following a tepid start to the year due to tariff-driven economic uncertainty.
According to the filings, Firefly reported a net loss of $60.1 million for the quarter ended March, compared with $52.8 million in losses in the year-ago quarter. Its revenue, however, surged $55.9 million from $8.3 million, and its backlog stood at about $1.1 billion.
Most retail traders were largely eager to grab a share on Thursday. The stock has gained over 1,380 watchers already on Stocktwits.
The company had also raised $50 million from Northrop Grumman earlier this year.
JPMorgan Chase & Co., Goldman Sachs Group Inc., Jefferies Financial Group Inc., and Wells Fargo & Co. are the lead underwriters of the IPO.
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