MW Investors are clamoring for this company's new stock, after a successful moon landing

By James Rogers

At the top end of its new estimated price range, Firefly Aerospace would have a market capitalization of about $6 billion

The expected price range of Firefly Aerospace Inc.'s IPO has increased, a sign of strong investor demand, as the company prepares to become the third space company to go public this year.

In a filing Monday, Firefly Aerospace said that it still plans to offer 16.2 million shares, but now at an expected price range of $41 to $43 a share, which would raise up to $696.6 million for the company. A week ago, the initial public offering was expected to price at $35 to $39 a share, to raise up to $631.8 million.

The increased demand follows the blowout debut of design-software company Figma Inc. $(FIG)$ last week, which saw the stock close its first day of trading a record 250% above its IPO price.

Firefly Aerospace expects to have 140.5 million shares after it goes public. At the top end of its new estimated price range, Firefly would have a market capitalization of about $6.04 billion.

The lead underwriters of the IPO include Wall Street heavyweights Goldman Sachs and J.P. Morgan, along with Jefferies and Wells Fargo Securities.

Earlier this year, the Cedar Park, Texas-based company was thrust into the spotlight when its Blue Ghost lunar lander successfully touched down on the moon.

"The achievement marked the first fully successful U.S. lunar-surface landing since the Apollo era over 50 years ago," the company said in its SEC filing. "Historically, only five countries - the United States, China, Russia, Japan and India - have achieved the feat of a lunar soft-landing, putting Firefly's capability in the realm of global superpowers."

The Blue Ghost Mission 1 carried 10 NASA payloads with a total contract value of $102.1 million that were transported to the lunar surface.

"The success of our Blue Ghost lander delivered valuable data and positions us to push forward rapidly with additional lunar missions, as well as future interplanetary expeditions," the company added in its SEC filing.

Firefly Aerospace's offering would mark the third space IPO of 2025, after Karman Holdings Inc.'s $(KRMN)$ IPO in February and Voyager Technologies Inc. $(VOYG)$, which went public in June.

Karman Holdings shares are up 70.9% since their debut, while Voyager Technologies' stock is down 29.9%. Meanwhile, the Renaissance IPO IPO exchange-traded fund has gained 8.9% this year, while the S&P 500 index SPX has risen 7.5%.

Firefly's stock is expected to trade on the Nasdaq under the ticker symbol "FLY."

-James Rogers

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August 04, 2025 16:18 ET (20:18 GMT)

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