Firefly Aerospace picked up orbital ambitions in the public market. The company, finding a string of successes this year, including a historical commercial landing month, submitted Friday regulations at the start of the IPO.
the S-1 document The US Securities and Exchange Commission has submitted a broad view of the financial and company management plans, even if the number of parts to offer and their prices have not been exposed. This means that the final appreciation is still the sober.
Firefly goes to the first public offer with $ 176.9 million equal to money and money. And as it gets negative cash flows and losses from operations, firefly expects its money enough to meet at least 12 months.
The company has large debt: about $ 173.6 million, including a $ 136.1 million term loan with 13.87% interest rate. The net that comes out of the IPO is used in part to pay outstanding loans, according to S-1.
The fuel reportedly scored $ 55.8 million in revenue on March 31, from $ 8.3 million for the same period of launch, “or firefly a costly effort, or the cost of the cost of $ 53 million to $ 53 million in gross profits.
The company moves a net loss of $ 231.1 million for the 2024 fiscal year, from $ 135.5 million at the end of the first quarter of $ 60.1 million.
However the company tells investors to investors who have not seen other than growing ahead, and there are some many pipeline improvements that can prove that is true. Includes that a major association In Northrop Defense Grip for a new, available useful launching vehicle called Eclipse, a launch of Lockheed Martin, and the coming commercial debut of Elytra, a spacecraft line Designed for Space Transportation Services.
The company also quotes the powerful customer needs, learned that on March 31 there are about $ 1.1 billion worth of backlogged launch orders and spacecraft contracts. That’s duplicate from $ 560 million in the backlogged order it is from one year before. That great enthusiasm comes from three agreements to launch many multispers for the small alphon of Firefly and an additional lunar delivery contract for the Blue Ghost Lander.
Regulatory document also says Firefly is trying to be a “controlled company” – that NASDAQ participants bought the company’s dismissal even after it was listed in public market.
The company is trying to list NASDAQ markets under the Ticker $ fly symbol. The news comes after a relative quiet time to arrive in the company’s space. There is an executed space companies informing mergers with special intentions of companies to take 2021 and 2022, which failed to do.
Firefly’s IPO likely to give some needed better fluid in the market. Its IPO will only be a month after Voyager space, a company in space Build Private Space StarlabPaper paper in IPO paper last month.
