Firefly Aerospace falls after $576 mln stock offering
BUZZ-Firefly Aerospace falls after $576 mln stock offering ** Space and defense tech firm Firefly Aerospace FLY.O shares down 3.8% before the bell to $47.49 after $576 mln follow-on priced
** Cedar Park, Texas-based FLY late Thurs announced 12 mln shares at $48, a 2.8% discount to last sale
** FLY sold 4 mln shares and affiliates of AE Industrial Partners parted with 8 mln shares
** With the sale, AE's stake reduced to ~50.8 mln shares, or 31.7% of total outstanding, per the prospectus
** FLY intends to use net offering proceeds it receives for general corporate purposes, including to support business growth and recently awarded programs and initiatives
** Goldman Sachs, J.P. Morgan, Jefferies and Wells Fargo are lead bookrunners
** Through Thurs, FLY stock up 121% YTD including 43% surge this month
** 7 of 10 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $37, according to LSEG data
** FLY went public in Aug 2025 IPO priced at $45
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Recent news on Firefly Aerospace
See all newsU.S. STOCKS ON THE MOVE-Thermo Fisher, CME, Capital One, Northern Trust
U.S. STOCKS ON THE MOVE-Thermo Fisher, CME
U.S. STOCKS ON THE MOVE-Wabtec, Robinhood, NANO Nuclear Energy
U.S. STOCKS ON THE MOVE-SpaceX, Elevance, Netflix
Brief: Firefly Aerospace Completes Preliminary Design Review For Nasa Moonfall Mission