Firefly Aerospace stock prices rose by 29% above their IPO value on Thursday which established an $8.15 billion market value for the space technology company after its bankruptcy. The first trading session began with shares priced at $58 which exceeded the initial public offering price of $45.
The market shows growing interest in space and defense startups which support U.S. national security objectives during this time. Firefly Aerospace generated $868 million through its IPO which exceeded the funding received by Karman Holdings and Voyager Technologies during their recent public offerings.
CEO Jason Kim emphasized the company’s achievements by mentioning its lunar landing achievement as well as its Alpha rocket launch for the Pentagon and its $1.1 billion contract backlog. The company maintains more than thirty upcoming launches and seeks participation in Trump’s proposed “Golden Dome” missile defense system.
Firefly Aerospace started operations in 2014 before declaring bankruptcy in 2017 and undergoing leadership changes to secure new funding for defense and lunar service development. The company formed a partnership with Northrop Grumman to create the Eclipse rocket which will launch in 2026.
The increasing global tensions have led officials to expand their space contractor base beyond SpaceX. The successful moon landing by Firefly Aerospace has established its credibility as a NASA and Space Force partner although the company predicts financial losses for upcoming years.
