You could own a share of Firefly
Firefly Aerospace plans to go public in the hopes of raising up to $631.8 million. Courtesy photo by Firefly Aerospace
UPDATE: When this story was originally published on July 31, Firefly Aerospace had shared its initial common stock price as “$35-$39.” On Aug. 4, the space firm filed an amendment to its registration with the U.S. Securities and Exchange Commission, adjusting its initial common stock price range to $41 to $43. With this adjustment, Firefly could raise $664.2 million to $696.6 million selling its proposed 16.2 million shares of common stock. This is significantly higher than the previous estimates of $567 million to $631.8 million at the original share price.
Firefly Aerospace, the space and defense technology firm with strong footholds in Burnet and Williamson counties, plans to go public.
According to an Aug. 4 filing with the U.S. Securities and Exchange Commission, the private space company will offer 16.2 million shares of its common stock for purchase, with an initial price range of $41 to $43. At the proposed rates, Firefly could raise $664.2 million to $696.6 million.
According to a July 28 media release, the funds would be used to repay debts, unpaid dividends, and for “general corporate purposes.”
The Central Texas space firm came to international prominence in March, when it completed the first-ever fully successful commercial moon landing.
Firefly is currently in a “roadshow” phase of its initial public offering, during which executives and underwriters are drumming up interest and support for the impending public launch. The company has not yet shared a timeline for when it will go public, but it will go by “FLY” on the Nasdaq global market ticker.
DailyTrib.com will provide updates on how this change in corporate structure could impact the Highland Lakes as details are made available.
Firefly in Burnet County
Firefly Aerospace is headquartered in Cedar Park but has a massive manufacturing and testing facility in Briggs, an unincorporated community in northeast Burnet County. The 200-acre site is known as “Rocket Ranch.”
Aside from Firefly’s space exploits, the company was a Burnet County buzz topic in April, when the Commissioners Court was seriously considering a partnership with Williamson County in the creation of the Central Texas Spaceport Development Corp. The SDC would have a special board tasked with growing and facilitating further space industry development in the two counties.
The Burnet County Commissioners Court ultimately decided to take no action on the project as several rural landowners expressed concerns about water use, eminent domain powers, environmental impacts, and potential disturbances from increased rocket testing.
