Kirkland Advises Firefly Aerospace on $576 Million Follow-On Offering

Kirkland & Ellis advised AE Industrial Partners and its portfolio company Firefly Aerospace, a space and defense company and the only commercial enterprise to achieve a successful moon landing, on its underwritten public offering of 12,000,000 shares of its common stock at a public offering price of $48.00 per share. The offering consisted of 4,000,000 shares of common stock offered by Firefly and 8,000,000 shares of common stock sold by certain of Firefly’s selling stockholders. The underwriters have been granted a 30-day option to purchase up to an additional 1,800,000 shares of the selling stockholders’ common stock. 

This is Firefly’s first follow-on offering since its historic August 2025 IPO led by Kirkland, which remains among the top 10 industrials IPOs of all time.

The Kirkland team included capital markets lawyers Bob Hayward, Kevin Frank, Caleb Pilukas, Paul Kieffer and Amy Pestenariu; corporate lawyers Matt Arenson, Jeffrey Swatzell, Elena Simion, Veronica Shen and Alanna Potter; tax lawyers Rachel Cantor and Joe Morley; and debt finance lawyers Michelle Kilkenney, Carolyn Aiken, Chris Gambini and Mitchell Steeves.