Space Technology Firm Firefly Raises IPO Target to $697 Million

Firefly Aerospace Inc. increased the potential size of its initial public offering to as much as $697 million.

The Cedar Park, Texas-based developer of launch vehicles and spacecraft plans to market 16.2 million shares for $41 to $43 per share, according to a filing Monday with the US Securities and Exchange Commission. Firefly had previously sought to offer the shares at $35 to $39 each.

At the top of the new range, Firefly would have a market value of $6 billion. Accounting for stock options and warrants, the company would have a fully diluted value of roughly $6.8 billion. The ...