Firefly Aerospace, a space technology startup backed by Northrop Grumman, is aiming for a $5.5 billion valuation in its U.S. IPO. The company plans to sell 16.2 million shares priced between $35 and $39 each, potentially raising $631.8 million. The IPO comes as the U.S. market shows signs of recovery in 2025.

The space industry is heating up with billionaires and private firms investing in rockets, satellites, and lunar missions. Firefly Aerospace’s IPO aligns with the commercialization of space exploration and the growing role of space in global defense. The company expects to fly annual missions to the moon with its Blue Ghost lander.

Recent funding reports show that space startups are attracting investor dollars, with Firefly Aerospace securing a valuation of over $2 billion in November 2024. The company landed on the moon successfully in March and has collaborations with industry giants like Lockheed Martin and L3Harris. The IPO will trade on the Nasdaq under the ticker symbol ‘FLY’.

Read more at Yahoo Finance: Firefly Aerospace seeks $5.5 billion valuation in IPO as US space race heats up