Latest news with #Mergermarket
Yahoo
3 days ago
- Business
- Yahoo
Firefly Aerospace sputters a day after stellar Nasdaq debut
By Manya Saini (Reuters) -Firefly Aerospace shares fell 9% in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings. After nearly three years of a dryspell in new listings, a resurgence in high-risk sectors such as space, crypto and fintech — fueled by blockbuster entries such as Firefly and Circle — is expected to prompt startups that held back during market turbulence to launch public offerings. Firefly's shares opened for trading on the Nasdaq at $70 apiece, compared with the initial public offering price of $45. It closed the debut session roughly 34% higher. "Large pops and drops show an elevated level of short-term money trading around IPOs, be it hedge funds or retail. This has been a feature of the market in recent months," said Samuel Kerr, head of equity capital markets at Mergermarket. Post-IPO stocks often see sharp swings in the days after listing, driven by factors such as limited share float, profit-taking by early investors and shifts in broader market sentiment. "The fact the stock is still well above the IPO price, despite a drop in premarket trading today and that should hopefully point to a solid cohort of institutional investors serving as a bed-rock for the stock in its early days of trading," Kerr said. Firefly had priced its IPO above the marketed range and raised $868.3 million in the year's biggest U.S. space listing, marking a striking comeback for a company that filed for bankruptcy in 2017. Private space firms have drawn fresh investor interest as they play a growing role in U.S. military and civil programs, aided by NASA's push to contract out lunar missions and the Pentagon's demand for responsive launch capabilities. The sector has also benefited from government spending and commercial satellite demand. Still, it faces potential challenges from high development costs and long production timelines.
CNA
3 days ago
- Business
- CNA
Firefly Aerospace sputters a day after stellar Nasdaq debut
Firefly Aerospace shares fell 9 per cent in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings. After nearly three years of a dryspell in new listings, a resurgence in high-risk sectors such as space, crypto and fintech — fueled by blockbuster entries such as Firefly and Circle — is expected to prompt startups that held back during market turbulence to launch public offerings. Firefly's shares opened for trading on the Nasdaq at $70 apiece, compared with the initial public offering price of $45. It closed the debut session roughly 34 per cent higher. "Large pops and drops show an elevated level of short-term money trading around IPOs, be it hedge funds or retail. This has been a feature of the market in recent months," said Samuel Kerr, head of equity capital markets at Mergermarket. Post-IPO stocks often see sharp swings in the days after listing, driven by factors such as limited share float, profit-taking by early investors and shifts in broader market sentiment. "The fact the stock is still well above the IPO price, despite a drop in premarket trading today and that should hopefully point to a solid cohort of institutional investors serving as a bed-rock for the stock in its early days of trading," Kerr said. Firefly had priced its IPO above the marketed range and raised $868.3 million in the year's biggest U.S. space listing, marking a striking comeback for a company that filed for bankruptcy in 2017. Private space firms have drawn fresh investor interest as they play a growing role in U.S. military and civil programs, aided by NASA's push to contract out lunar missions and the Pentagon's demand for responsive launch capabilities. The sector has also benefited from government spending and commercial satellite demand.
Reuters
3 days ago
- Business
- Reuters
Firefly Aerospace sputters a day after stellar Nasdaq debut
Aug 8 (Reuters) - Firefly Aerospace (FLY.O), opens new tab shares fell 9% in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings. After nearly three years of a dryspell in new listings, a resurgence in high-risk sectors such as space, crypto and fintech — fueled by blockbuster entries such as Firefly and Circle (CRCL.N), opens new tab — is expected to prompt startups that held back during market turbulence to launch public offerings. Firefly's shares opened for trading on the Nasdaq at $70 apiece, compared with the initial public offering price of $45. It closed the debut session roughly 34% higher. "Large pops and drops show an elevated level of short-term money trading around IPOs, be it hedge funds or retail. This has been a feature of the market in recent months," said Samuel Kerr, head of equity capital markets at Mergermarket. Post-IPO stocks often see sharp swings in the days after listing, driven by factors such as limited share float, profit-taking by early investors and shifts in broader market sentiment. "The fact the stock is still well above the IPO price, despite a drop in premarket trading today and that should hopefully point to a solid cohort of institutional investors serving as a bed-rock for the stock in its early days of trading," Kerr said. Firefly had priced its IPO above the marketed range and raised $868.3 million in the year's biggest U.S. space listing, marking a striking comeback for a company that filed for bankruptcy in 2017. Private space firms have drawn fresh investor interest as they play a growing role in U.S. military and civil programs, aided by NASA's push to contract out lunar missions and the Pentagon's demand for responsive launch capabilities. The sector has also benefited from government spending and commercial satellite demand. Still, it faces potential challenges from high development costs and long production timelines.
Yahoo
3 days ago
- Business
- Yahoo
Firefly Aerospace sputters a day after stellar Nasdaq debut
By Manya Saini (Reuters) -Firefly Aerospace shares fell 9% in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings. After nearly three years of a dryspell in new listings, a resurgence in high-risk sectors such as space, crypto and fintech — fueled by blockbuster entries such as Firefly and Circle — is expected to prompt startups that held back during market turbulence to launch public offerings. Firefly's shares opened for trading on the Nasdaq at $70 apiece, compared with the initial public offering price of $45. It closed the debut session roughly 34% higher. "Large pops and drops show an elevated level of short-term money trading around IPOs, be it hedge funds or retail. This has been a feature of the market in recent months," said Samuel Kerr, head of equity capital markets at Mergermarket. Post-IPO stocks often see sharp swings in the days after listing, driven by factors such as limited share float, profit-taking by early investors and shifts in broader market sentiment. "The fact the stock is still well above the IPO price, despite a drop in premarket trading today and that should hopefully point to a solid cohort of institutional investors serving as a bed-rock for the stock in its early days of trading," Kerr said. Firefly had priced its IPO above the marketed range and raised $868.3 million in the year's biggest U.S. space listing, marking a striking comeback for a company that filed for bankruptcy in 2017. Private space firms have drawn fresh investor interest as they play a growing role in U.S. military and civil programs, aided by NASA's push to contract out lunar missions and the Pentagon's demand for responsive launch capabilities. The sector has also benefited from government spending and commercial satellite demand. Still, it faces potential challenges from high development costs and long production timelines.
Business Wire
6 days ago
- Business
- Business Wire
DLA Piper Advises Albers Aerospace in Its Acquisition of a Defense Technology Company
NEW YORK--(BUSINESS WIRE)--DLA Piper advised Albers Aerospace, a warfighter-focused partner delivering advanced solutions across aerospace and defense sectors, in its acquisition of a global leader in Intelligence, Surveillance, and Reconnaissance (ISR) integration. With this new acquisition, Albers Aerospace delivers tailored ISR solutions that meet the operational needs of its clients worldwide. From concept to delivery, Albers Aerospace ensures mission success through superior technology, engineering, and support. 'Congratulations to the entire Albers Aerospace team on this successful acquisition, which will immediately benefit the strategic mission of the company and add to their industry-leading capabilities,' said Jeffrey Houle, Co-Chair of DLA Piper's Aerospace, Defense, and Government Services Transactional Practice. John Albers, CEO of Albers Aerospace, said: 'We appreciate the careful guidance and unwavering support from Jeff and the DLA Piper team. Their extensive experience and industry insights were crucial to the closing of this key acquisition.' Along with Houle (Washington, DC), the DLA Piper team that advised Albers Aerospace included Partners Tom Pilkerton and Julia Kovacs (both Baltimore) and William Bartow (Philadelphia); Of Counsel Christina Pappas (Baltimore); and Associates Julie Franki (Atlanta) and Huntington Domine (Palo Alto). With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, according to Mergermarket, and ranked as number one in VC, PE and M&A in combined global deal volume according to PitchBook. DLA Piper's Aerospace and Defense practice offers a multidisciplinary international team with deep expertise across the defense contracting lifecycle, from bid preparation and regulatory compliance to contract performance and dispute resolution. Our integrated team of government contracts specialists and corporate attorneys adeptly manages complex transactions—including mergers and acquisitions, joint ventures, and strategic partnerships—essential for success in this rigorously regulated sector. Drawing upon extensive experience with federal acquisition regulations and national security mandates, we provide comprehensive legal counsel that safeguards compliance while facilitating clients' strategic growth within the aerospace and defense industry. About DLA Piper DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. About Albers Aerospace: Albers Aerospace is a trusted leader in aerospace and defense, delivering advanced, mission-critical solutions that empower the Warfighter and enhance national security. With expertise spanning digital and systems engineering, ruggedized power and container solutions, unmanned systems, and networking, Albers Aerospace supports defense operations across land, air, and cyber domains. As a privately owned, next-generation contractor operating at the crucial intersection of commercial and defense sectors, we bring agile, scalable, and high-performance solutions to meet the evolving demands of modern missions. Our commitment to being a reliable partner drives us to invest in cutting-edge technology, streamlined processes, and uncompromising quality standards, ensuring our clients' operational success and resilience. Guided by core values of excellence, integrity, dedication, & stewardship, Albers Aerospace is dedicated to delivering innovative solutions today that solve the challenges of tomorrow.
