- Rocket maker Firefly Aerospace will go public on the Nasdaq under the ticker symbol “FLY.”
- Firefly’s planned offering comes during a resurgence period for IPOs after the market collapsed in 2022 as rising interest rates and skyrocketing inflation deterred investors from betting on riskier assets.
- The Texas-based space transportation company creates spacecrafts such as rockets and space tugs, and its lunar lander successfully touched down on the moon earlier this year.
Rocket maker Firefly Aerospace
filed
for an initial public offering on Friday, with plans to trade under the ticker symbol “FLY” on the Nasdaq.
Stream San Diego News for free, 24/7, wherever you are with NBC 7.
Firefly’s planned offering comes during
a resurgence period
for IPOs after the market
collapsed in 2022
as rising interest rates and skyrocketing inflation deterred investors from betting on riskier assets.
Some companies, including Klarna and ticket reseller StubHub,
delayed public offerings
earlier this year as President Donald Trump’s tariff plans rattled global markets. But venture capitalists are becoming more optimistic after a strong June for deal activity that included a surge in crypto company
Circle
and a major
Meta Platforms
deal
with Scale AI
. Figma also
filed its prospectus
earlier this month.
Get top local San Diego stories delivered to you every morning with our News Headlines newsletter.
Firefly, a Texas-based space transportation company, creates rockets, space tugs and lunar landers, and is widely
lauded for its satellite launching Alpha rockets
. Earlier this year, Firefly’s lunar lander, known as Blue Ghost,
successfully landed
on the moon.
The company said its revenue grew more than sixfold at the end of March to about $55.9 million, from $8.3 million a year ago. The company also reported a net loss of about $60.1 million, up from $52.8 million a year ago. Firefly said its backlog totaled about $1.1 billion.
Lead underwriters on the deal include Goldman Sachs, JPMorgan, Jefferies and Wells Fargo.
Money Report
Robinhood is up 160% this year, but several obstacles are ahead
Bill Gates says Trump’s cuts to USAID are devastating: ‘It’s not too late to reverse them’
WATCH:
Firefly’s ambitious plan to become the next SpaceX
Also on CNBC
-
Bill Gates says President Trump’s USAID cuts are ‘devastating’
-
Tron’s Justin Sun says he’s buying another $100 million of Trump’s memecoin
-
TikTok loses bid to dismiss lawsuit alleging ‘addictive design’ exploits kids
