Aerospace company Firefly has submitted its formal declaration detailing plans for an initial public offering (IPO) sometime later this year

Firefly is heading into the initial public offering with $176.9 million in cash and cash equivalents. And while it has incurred negative cash flows and losses from operations, Firefly projected that its cash is adequate to meet its liquidity needs for at least 12 months.

Firefly Aerospace has filed for an initial public offering on the Nasdaq under the ticker ‘FLY,’ aiming to turn its recent momentum into capital