Firefly Aerospace Aims Higher with $6 Billion Valuation in IPO

Firefly Aerospace, a Texas-based space startup backed by Northrop Grumman, has adjusted its initial public offering (IPO) aspirations, setting its sights on a valuation peaking at $6.04 billion. The company disclosed on Monday its intention to raise $696.6 million by selling 16.2 million shares priced from $41 to $43 each, a notable increase from the prior $35 to $39 range.

This move is reflective of the burgeoning interest and confidence investors are showing in the aerospace sector, particularly in space-related enterprises that are emerging as lucrative opportunities.

With its IPO, Firefly Aerospace aims to capitalize on the current investment frenzy surrounding space exploration and technology, positioning itself as a key player in a rapidly expanding market.

(With inputs from agencies.)