Aerospace and defense technology company Firefly Aerospace plans to seek a valuation of about $5.5 billion in a U.S. initial public offering (IPO) as investor demand for newly listed shares shows continued signs of rebounding.
The company plans to raise up to $631.8 million by selling shares at $35 to $39 a share, a regulatory filing showed on Monday.
After nearly three years of sluggishness, the U.S. IPO market is showing signs of steady recovery in 2025. Loose interest rates, improved market conditions, and a backlog of high-growth companies waiting to be listed have reignited investor enthusiasm.
Several high-profile companies, including digital bank Chime and stablecoin issuer Circle, have gone public in recent weeks, reigniting market optimism and more companies are preparing to test the IPO waters in the second half of this year.
Firefly Aerospace is expected to list on Nasdaq under the ticker symbol "FLY."
Goldman Sachs, JPMorgan Chase, Jefferies and Wells Fargo Securities are the lead underwriters on the offering.
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