Firefly Aerospace lifts IPO range that would value company at over $6 billion
The lunar lander and rocket maker said in a filing Monday that it expects to price shares in its upcoming IPO between $41 and $43 apiece.
Firefly's new target range would raise nearly $697 million at the top end of the range. That's up from the previously expected $35 to $39 price per share that Firefly announced in a filing last week, which targeted a $5.5 billion valuation.
Firefly announced plans to go public last month as interest in space technology gains steam, and billionaire-led companies such as Elon Musk's SpaceX rake in more funding.
The industry has also begun testing the public markets after a long hiatus in IPO deal activity, with space tech firm Voyager debuting in June.
Firefly makes rockets, space tugs and lunar landers, and is widely known for its satellite launching rockets known as Alpha.
The company has partnered with major defense players such as Lockheed Martin, L3Harris and NASA, and received a $50 million investment from defense contractor Northrop Grumman.
Firefly's revenues jumped from $8.3 million a year ago to $55.9 million at the end of March, the company said. Its net loss grew to $60.1 million, from $52.8 million a year ago.
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