[ad_1]
Jason Kim, chief govt officer of Firefly Aerospace, middle, in the course of the firm’s preliminary public providing on the Nasdaq MarketSite in New York, US, on Thursday, Aug. 7, 2025.
Michael Nagle | Bloomberg | Getty Photos
Firefly Aerospace inventory climbed 12% Monday, after the area firm stated it is shopping for protection know-how contractor SciTec for $855 million because it appears to strengthen its nationwide safety providing.
The deal, introduced Sunday, is slated to shut on the finish of the 12 months and contains $300 million money and $555 million in Firefly shares.
“These capabilities considerably improve our capability to ship built-in, software-defined options for vital nationwide safety imperatives, significantly Golden Dome,” stated CEO Jason Kim in a launch.
The corporate plans to combine SciTec’s software program into its instruments. Capabilities resembling missile warning, monitoring and protection and autonomous command management can even help Firefly’s launch and area providers, the corporate stated.
Final week, Firefly shares sank over 20% in a single buying and selling session after the corporate stated a rocket exploded throughout a floor check at its Texas facility. That got here shortly after the Federal Aviation Administration cleared Firefly in an investigation over one other rocket failure.
Firefly shares debuted on the Nasdaq this summer time to robust investor demand. The general public itemizing marked the third vital area tech debut of 2025, and shares surged greater than 30% on its first day of buying and selling. The inventory has since pulled again.
Firefly carries a rising listing of key authorities and protection companions because it builds its place within the nationwide safety area. That features a current $177 million contract with NASA and a $50 million funding from Northrop Grumman.
As soon as the acquisition closes, Princeton, New Jersey-based SciTec will function as a subsidiary run by present CEO Jim Lisowski.
WATCH: Firefly Aerospace CEO Jason Kim on IPO debut, pathway to profitability
[ad_2]
