Deal Details

Firefly Completes $576.0 Million Follow-On Offering

Industrial

Firefly follow-on offering

Summary

Firefly Aerospace Inc. (“Firefly”) (NASDAQ: FLY) recently announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock at a public offering price of $48.00 per share (the “Offering”). The Offering consisted of 4,000,000 shares of common stock offered by Firefly and 8,000,000 shares of common stock sold by certain of Firefly’s selling stockholders. The underwriters have been granted a 30-day option to purchase up to an additional 1,800,000 shares of the selling stockholders’ common stock.

Firefly will not receive any proceeds from the sale of common stock by the selling stockholders. The Offering generated approximately $192 million in primary gross proceeds for Firefly and $576 million in secondary gross proceeds to certain selling stockholders. Firefly expects to use the net primary proceeds for general corporate purposes, including to support growth of core business and recently awarded programs and initiatives.

Baird served as a Bookrunner on the Offering.

Key Offering Metrics

Launch Date - May 26, 2026
Pricing Date - May 28, 2026
Exchange / Ticker - NASDAQ / FLY
Shares Offered - 12,000,000
Offer Price - $48.00
Base Offering Size - $576.0 million (33% primary / 67% secondary)
Overallotment Option - $86.4 million (100% secondary)
Total Offering Size - $662.4 million
Pre-Deal Market Cap - $9.4 billion
Discount to Last Trade - (2.8%)
File-to-Offer Discount - (18.4%)
Base Deal Size as a % of Pre-deal Market Cap - 6.1%
Execution - 2-Day Marketed Follow-on

About

Firefly is a space and defense technology company on a mission to reliably and repeatedly launch, land, and operate space systems from Earth to the Moon and beyond. As the partner of choice for responsive space missions, Firefly is the first commercial company to launch a satellite to orbit with approximately 24-hour notice and the first to achieve a successful landing on the Moon. Established in 2017, Firefly’s engineering, manufacturing, and test facilities are co-located in central Texas to enable rapid innovation and vertical integration for the company’s small- to medium-lift launch vehicles, lunar landers, and orbital vehicles. Firefly is headquartered in Cedar Park, Texas.