Firefly Aerospace has launched an initial public offering roadshow with plans to offer 16.2 million shares of common stock priced at $35 to $39 per share.
The company said Monday it also intends to give the underwriters a 30-day option to buy an additional 2.43 million shares of its common stock at the initial offering price, less underwriting discounts and commissions.
In mid-July, Firefly filed a registration statement with the Securities and Exchange Commission for the proposed IPO and announced plans to list its common stock under the ticker symbol “FLY” on the Nasdaq Global Market.
Net proceeds from the proposed IPO will be used to repay outstanding borrowings under the company’s credit agreement, pay any accrued dividends on certain preferred stock series and for general corporate purposes.
Goldman Sachs & Co., J.P. Morgan, Jefferies and Wells Fargo Securities serve as lead bookrunning managers for the proposed IPO.
Morgan Stanley, Deutsche Bank Securities and Cantor act as joint bookrunners in the proposed offering. Roth Capital Partners and Academy Securities will serve as co-managers.
What Does Firefly Aerospace Do?
Founded in 2017, Firefly Aerospace is a space and defense technology company that develops small- to medium-lift launch vehicles, lunar landers and orbital vehicles in support of government and commercial space missions.
The company’s manufacturing, engineering and test facilities are co-located in central Texas to accelerate innovation.
Firefly has secured launch service contracts from NASA, including a task order to launch the space agency’s Investigation of Convective Updrafts mission that seeks to study the formation of tropical storms. NASA awarded the task order for the INCUS mission under the $300 million Venture-Class Acquisition of Dedicated and Rideshare contract.
