Aerospace company of former Ukrainian owner listed for sale for $1.5 billion
Photo: Firefly Aerospace

Investors of the Firefly Aerospace company, once owned by Ukrainian businessman Max Polyakov from 2017 to 2022, are contemplating its sale, according to Bloomberg.

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Sources indicate that the value of the satellite and lunar lander manufacturer could be around $1.5 billion.

The company, expected to attract interest from private equity firms and industry peers, might ultimately decide against the sale, Bloomberg sources claim.

Firefly Aerospace is a private aerospace company headquartered in Austin, Texas. It was established based on Firefly Space Systems, which was acquired and relaunched by Ukrainian entrepreneur and Noosphere Ventures founder Max Polyakov in 2017. The company had an office in Dnipro, Ukraine.

In February 2022, Polyakov exited the Firefly Aerospace project at the request of the US government, transferring his 58% stake to his partner Thomas Markusic for $1.

Investors, including American private equity firm AE Industrial Partners, are working with a consultant on strategic options for Firefly, Bloomberg reports.

Representatives from AE and Firefly Aerospace declined to comment.

AE invested $75 million in Firefly during a Series B funding round in 2022. In November 2023, the firm made a subsequent investment during a Series C round, valuing the company at $1.5 billion.

Investors have supported the company in securing deals, including the acquisition of Spaceflight Inc, a satellite developer and launch service broker, in 2023.

Firefly's Alpha rocket has contracts to launch satellites for the Department of Defense and NASA, as well as for commercial satellite operators.

Additionally, Firefly plans to launch the Blue Ghost lunar lander later this year, carrying scientific instruments as part of a NASA program.