Fly Leasing Limited is preparing to go public on the NASDAQ, offering 16.2 million shares priced between $41.00 and $43.00. This move comes as the IPO market experiences a resurgence, with several companies making significant debuts. The space technology sector, in particular, is attracting substantial investor interest, as highlighted by the recent activities of companies like Firefly Aerospace.
Firefly Aerospace, a prominent player in the space and defense technology sector, has priced its shares at $45, exceeding its anticipated range. The company is set to debut on the Nasdaq under the ticker symbol "FLY," raising $868 million and valuing the company at approximately $6.3 billion. This reflects the growing investor interest in space technology, a sector that has seen investments from figures like Elon Musk and Jeff Bezos.
The IPO market is witnessing a revival, with major debuts from companies such as Figma, CoreWeave, and Circle. Firefly Aerospace's IPO is managed by leading financial institutions, including Goldman Sachs, J.P. Morgan, Jefferies, and Wells Fargo. The company plans to use the proceeds to repay outstanding borrowings, settle dividends, and for general corporate purposes.
Firefly Aerospace has increased its share price range, now expecting to price shares between $41 and $43, up from the initial range of $35 to $39. This adjustment could potentially raise nearly $697 million at the higher end. The company's focus on rockets, space tugs, and lunar landers positions it well in the growing space technology market.
The stock for NYSE:FLY is currently priced at $17.03, with a trading volume of 54,616 shares. Over the past year, the stock has fluctuated between a high of $17.05 and a low of $5.64. This reflects the dynamic nature of the market and the potential for growth in the space technology sector.
