Firefly Aerospace, a company operating in the SpaceTech sector, is preparing to go public and has begun disclosing financial details ahead of its upcoming IPO.

• The share price is expected to range between $35 and $39, giving the rocket manufacturer a valuation of approximately $5.5 billion.
• Through the IPO, Firefly aims to raise up to $630 million.
• Once listed, the company will trade under the ticker symbol FLY.

Firefly builds rockets, space tugs, and lunar landers, including its Alpha rockets, which are used to launch satellites. As of the end of March, the company reported a sixfold year-over-year revenue increase — from $8.3 million to $55.9 million.

Its current order book exceeds $1.1 billion.

Key investors include AE Industrial Partners, which led early investment rounds. In May 2025, defense contractor Northrop Grumman invested $50 million in the company. Firefly also reports active collaborations with Lockheed Martin, L3Harris, and NASA.

Firefly Aerospace and Ukraine

Originally founded in 2014 as Firefly Space Systems, the company filed for bankruptcy in 2017. It was then acquired by Ukrainian entrepreneur Max Polyakov, who relaunched it under the new name Firefly Aerospace.

According to Polyakov, he invested more than $200 million of his own funds into the business. Between 2021 and 2024, Firefly attracted a total of around $750 million in investments.

In November 2021, the U.S. Committee on Foreign Investment requested that Polyakov sell his stake, reportedly due to concerns over Russia’s aggression against Ukraine and the threat of a full-scale invasion. At the time, Firefly already operated a major R&D facility in Dnipro, Ukraine.

U.S. authorities feared that Russia could gain access to sensitive space industry data. Polyakov claims he transferred his 58% stake to the company’s management for $1. According to Scroll.media sources, he may have retained a small stake, but due to the sensitivity of the issue, Polyakov stopped associating himself publicly with Firefly’s operations.