Just yesterday, Firefly Aerospace debuted in IPO at Nasdaq under the ticker “FLY”, pricing 19.3 million shares at $45 each. This has generated $868M for the startup, surpassing its initial target. Underwriters received a 30-day option to purchase an additional 2.89 million shares, potentially increasing the capital raised.
The stock opened at $70, a 56% increase from the IPO price. Reports state that the shares closed the day at around $60.35, valuing the company at $9.8B. Earlier, we reported that Firefly Aerospace was targeting $6B IPO.
Firefly plans to allocate part of the proceeds towards paying down existing debt and supporting general corporate activities.
NASA contract and technological advancements
A major boost to Firefly’s commercial prospects came with a $177 million NASA Commercial Lunar Payload Services contract in July 2025. It tasks Firefly with delivering multiple payloads, including rovers and scientific instruments, to the moon’s south pole by 2029.
From a technological point of view, Firefly advances the development of its Eclipse medium-lift reusable rocket in partnership with Northrop Grumman, which has invested $50 million to expedite production. This rocket, capable of delivering approximately 16,300 kilograms to low Earth orbit, is expected to launch as early as 2026 from Wallops Island, Virginia, and is designed to serve commercial satellite and national security missions, including space station resupply.
Firefly is also developing the Elytra spacecraft platform to provide in-space services such as satellite hosting, orbital transfers, and lunar imaging. The company plans to launch a commercial lunar imaging service named Ocula in 2026.
What’s next?
Firefly is also focusing on securing domestic supply chains for its launch vehicles, aiming to reduce reliance on foreign components. Positioned as a competitor to SpaceX and Rocket Lab, Firefly Aerospace’s IPO performance, growing contract backlog, and advanced technology development signal its rising prominence in the commercial and government space markets.
