Space technology company Firefly Aerospace Inc. successfully debuted on the Nasdaq today and saw its share price close regular trading up 34% from its initial public offering price.
The company raised approximately $868 million in the float after its stock listed at $45 per share. Through its first day of trading, Firefly Aerospace stock hit a high of $71.16 before closing at a more modest but still impressive $60.35.
Founded in 2014, Firefly Aerospace develops launch vehicles, spacecraft and in-space services for commercial, civil and defense markets. The Texas-based company is focused on providing cost-effective and reliable access to space for small- to medium-class payloads.
Firefly’s main launch vehicle, called the Alpha rocket, is designed to deliver up to one metric ton of payload to low Earth orbit. The rocket is designed to serve the expanding small satellite market by offering dedicated and rideshare launch options that reduce costs and scheduling constraints compared to larger rockets.
The company is also currently developing a larger Beta rocket that will support heavier payloads and more ambitious missions.
Along with rockets, Firefly Aerospace is also involved in lunar exploration through its Blue Ghost lunar lander program. The company has been selected by the U.S. National Aeronautics and Space Administration under the Commercial Lunar Payload Services initiative, with Blue Ghost designed to transport science instruments, technology demonstrations and other cargo to the Moon’s surface.
Notably, Firefly has already been to the moon, with the company becoming the first ever to successfully complete a fully commercial lunar landing, with its Blue Ghost Mission 1 successfully landing a robotic module on the moon on March 2. Highly technical startups are often referred to as “moonshots,” but few actually literally land on the moon, unlike Firefly Aerospace via an uncrewed robotic mission.
The company’s portfolio also includes in-space transportation and on-orbit services aimed at supporting the emerging “cislunar” economy. Firefly is developing technologies for spacecraft hosting, orbital transfer and mission support in environments between Earth and the Moon.
“We at Firefly have had a lot of successes toward going public,” Firefly Chief Executive Officer Jason Kim told Reuters, noting the company’s breakthrough moon landing, a rapid Pentagon launch with its medium-sized Alpha rocket in 2023 and a growing business line that will offer maneuverable space vehicles for the U.S. Space Force.
Image: Firefly Aerospace
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About News Media
Founded by tech visionaries John Furrier and Dave Vellante, News Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
