Firefly Aerospace Sets IPO Valuation Near $6B

Firefly Aerospace, a Texas-based space technology firm backed by Northrop Grumman, has raised its IPO target valuation to as much as $6.04 billion by offering 16.2 million shares at $41–$43 each. The revised price range, up from $35–$39, aims to raise up to $697 million and reflects strong investor demand in the space sector. This marks a substantial jump from the company’s Series D valuation of just over $2 billion in November. The increased interest in the IPO comes amid recent successful tech company debuts and expanded government investment in space capabilities. The IPO is scheduled to price on Wednesday, with trading expected to begin on the Nasdaq under the ticker symbol 'FLY' the following day. Lead underwriters include Goldman Sachs, J.P. Morgan, Jefferies, and Wells Fargo Securities.