08:10 AM EDT, 07/28/2025 (MT Newswires) -- Firefly Aerospace said Monday it has commenced an initial public offering of 16.2 million of its common shares.

The space and defense technology company expects to provide a 30-day option to the underwriters to buy an additional 2.4 million of its common shares, it said.

The IPO price will likely range between $35 and $39 apiece, added Firefly Aerospace, which has applied for the listing of its common shares on Nasdaq under the "FLY" ticker.

The company also said it plans to use the net proceeds for the repayment of outstanding borrowings under its credit deal, pay any accrued and unpaid dividends on certain series of its preferred stock, and for general corporate requirements.