Shares of Firefly Aerospace rose just over 50% in first-day trading Thursday, demonstrating hearty investor appetite for a new opportunity in spacetech.
The Cedar Park, Texas-based company, which offers launch, land and in-space services for national security and commercial customers, raised $868 million in the offering. It priced shares late Wednesday at $45 each, above the already-raised projected range. The company is trading on Nasdaq under the ticker symbol FLY.
The IPO follows a string of well-received venture-backed debuts, including last week’s blockbuster market entry by design software provider Figma, which saw shares triple in first-day trading.
For Firefly, meanwhile, investors aren’t flocking to buy for profitability. The 11-year-old company posted a net loss of $231 million in 2024 and $60 million in the first quarter of this year, per its IPO prospectus.
However, it is seeing growing revenue. In Q1 2025, revenue totaled $55.9 million, up from just $8.3 million in the same period a year earlier. That said, it should be noted that revenue recognition can be complex for Firefly’s sector, which is reliant on multiyear contracts that may be announced some time before they are paid out.
Firefly’s IPO comes amid a relatively robust period for investment in spacetech startups, with multiple rounds above $100 million closing this year. Investors are particularly bullish about opportunities at the intersection of spacetech and AI.
For its part, Firefly raised close to $700 million in equity funding over the years. Its largest stakeholder is AE Industrial Partners, with 47% of pre-IPO shares, per Firefly’s prospectus.
In addition to rising share prices, the current IPO market is characterized by high valuations being minted. While Figma shares have fallen some in recent days, for instance, it’s still valued at over $40 billion.
Another mega-debut came from AI infrastructure provider CoreWeave, with a recent market cap around $57 billion. Shares of the New Jersey company have also more than doubled since its April IPO. The strongest performer among big IPOs, meanwhile, is Circle Internet Group, up more than 4x since its June market entry.
The Tenerife Cabildo has officially approved the implementation of a new fuel tax, dubbed the “céntimo forestal”.
The Tenerife Cabildo has officially approved the implementation of a new fuel tax, dubbed the “céntimo forestal”.
The Tenerife Cabildo has approved a controversial Fuel Tax to fund forest protection measures. The Tenerife Cabildo has officially approved the implementation of a new fuel tax, dubbed the “céntimo forestal”.
It is aimed at funding forest fire prevention and environmental restoration efforts. The decision has sparked a fierce backlash – with locals divided, as political parties, residents, and business owners all rush to have their say.
The tax will see a surcharge of €0.02 per litre added to the cost of petrol and diesel on the island. It is expected to generate approximately €10 million annually, which will be directed towards reforestation with native species, soil erosion control, and improving fire prevention systems in high-risk areas.
Blanca Pérez, Councillor for the Natural Environment, said the tax is a necessary step to protect Tenerife’s natural heritage. But the main opposition party, PSOE, voted against the measure, calling it “inflationary”.
“The government refuses to implement a tourist tax that would primarily impact visitors, yet supports a fuel tax that burdens residents, including those who must commute for work,” said a PSOE spokesperson.
Critics have argued that its cumulative effect could lead to increased prices not only at the pump, but also across goods and services reliant on transport.
This could particularly affect residents who rely on private vehicles to commute, as well as tourists hiring cars during their stay on the island.
Tenerife is neighboured by the likes of Lanzarote and the other Canary Islands, which are go-to European Union destinations for holidaymakers.
But the Cabildo insists the funds are essential to safeguarding the island’s forests, which are under increasing threat from climate change and illegal dumping.
Supporters say that investing in the natural environment will ultimately benefit both locals and visitors in the long run, though the short-term economic impact remains a concern for many.
A scheme warning Londoners about phone theft is a sad indictment of the city’s lawlessnessCredit: PA
And with a smartphone stolen every eight minutes in London, getting your device nicked by some two-wheeled scumbag is a very real possibility.
“Enough is enough,” says Ed Connolly, of electrical retailer Currys, who are behind the scheme.
“It’s time to draw the line on phone theft.
“That’s why we’ve launched the Mind the Grab campaign — a bold pavement marking we believe can make a real difference by encouraging people to step back from the kerb.”
Good for Currys. But what a tragedy it is not our invisible police, the useless London Mayor or our spineless politicians who had the wit and will to say enough is enough.
And what a crying shame it is the innocent, law-abiding and decent who must adapt their behaviour as thieving little bastards are allowed to run amok.
But this is the country we now live in.
There are voices on the Left who insist statistics prove crime’s going down.
But that is not the way it feels when you see the thin purple line on Oxford Street. And that is certainly not what the rest of the world believes.
Degrade quality of life
My family was in Lapland earlier this year when a fellow traveller was shocked to learn that we live in London.
How business owners are cracking down on shoplifting
“Do you feel safe there?” she gasped. And she was from . . . Iran.
But this view of the UK as a lawless land is growing.
The Australian government warns its citizens to “exercise a high degree of caution” when visiting the UK, because “petty crime is common, including pickpocketing and thieves who use scooters and bicycles to snatch belongings”.
Mr Algasim’s family are from Saudi Arabia. And who would dare to contradict them?
The Broken Windows Theory of crime states that visible signs of criminality — broken windows, graffiti, the stink of weed — create an urban environment that encourages further crime. And that is exactly where we are today.
Last year around 80,000 people had their phones stolen in London.
Yes, phone theft is horrible. But then so is burglary, shoplifting, mugging and knife crime. They all degrade and coarsen our quality of life.
The decline of the social contract means we are becoming a nation fit for thieving, violent little scumbags
They all make us feel our loved ones are not safe on the streets where we live.
I guess these people don’t get out of the house much. Because as they close all of the police stations, the coppers withdraw from sight and the UK becomes the global centre of street crime, the UK sure as hell doesn’t feel safer than it has ever been.
Significantly, the Australian government gives the UK a Level 2 rating, reflecting “a weak law and order system, where violent crime is common”, and a country that “may lack some key public services, such as a responsive police force”.
Yes, that’s us! The police will not save you. The courts will do bugger all.
We are on our own now. Because there has clearly been a fraying of the social contract in this country.
Meaning — the way we behave.
Meaning — how we treat each other.
Meaning — our sense of our rights and our duties.
Meaning — the immutable standards, values and beliefs we all share.
Meaning — communal sense of decency.
Now, hurting someone you don’t know is socially acceptable. There is nothing pathetic, nasty and cruel about taking something that doesn’t belong to you.
Shoplifting, phone theft, mugging, assault — it is no big deal.
And it ends with a student, a beloved son who was thrilled to be in the UK for ten weeks, bleeding to death.
The decline of the social contract means we are becoming a nation fit for thieving, violent little scumbags.
And I fear it will take more than a thin purple line to stop them.
Arrest E-bike idiots
THE backlash against e-bikes has begun.
One London council, Hounslow, has terminated its contract with Lime after two years following complaints about “antisocial parking” on pavements.
Writing in The Times, Agustin Guilisasti, co-founder and CEO of e-bike company Forest, calls for greater clarification about the rules and regulations around his booming industry.
These would be good rules.
Every e-bike that is abandoned on a pavement should be removed and destroyed.
And the law should treat e-bike users like motorists.
When they race through red lights, gawping gormlessly at their phone at 30 mph – nick the morons.
Business is booming for the e-bike companies.
But they are aware that many of us heartily despise them.
Hounslow council has decided to end its contract with Lime and hand the reins to rivals Forest and Voi to “maintain clear pavements and discourage poor parking”.
Good luck with that.
As far as I can tell from my neck of the woods, they – and the people who use them – are all as thoughtless as each other.
E-bikes are not saving our towns, cities or planet. They are wrecking them.
Name shame
7
It is no longer fashionable to name your baby after a member of the Rolling Stones
BACK in the Sixties they asked, would you let your daughter go with a Rolling Stone?
Now the question is, would you name your baby after a Rolling Stone?
Probably not. Keith is no longer in the top 100 names. Neither is Mick.
All those “dad” names – Steve is another one, and Ian and Nigel – are on the way out.
As is Tony. Nobody would call their baby Tony these days.
One of us launches an unnecessary and unprovoked war against Iraq on fabricated evidence and suddenly our name is mud.
Still a trump card
7
Yvette Cooper and Labour look out of answers on migration after the Rwanda scheme was scrappedCredit: Alamy
But how galling that Rwanda is now taking 250 migrants from the US under Donald Trump’s removal system.
And their pleasant accommodation in Rwanda will be paid for by the British taxpayer.
Perhaps Rwanda will work as a deterrent after all.
And it will certainly be a much greater deterrent to illegal migration than Labour’s “one-in, one-out” deal with France, meaningless sound bites about “smashing the gangs”.
And Home Secretary Yvette Cooper looking very, very cross.
7
Ozzy Osbourne’s death certificate boasted a job title anybody would be proud ofCredit: Getty
OZZY OSBOURNE’S death certificate describes the Black Sabbath supremo as a “songwriter, performer and rock legend”.
That sounds like a good job.
What’s the money like?
Home front
7
Rushanara Ali has resigned as minister for homelessness after evicting her tenantsCredit: PA
LABOUR’S minister for homelessness, Rushanara Ali, has resigned after turfing four tenants out of her London rental property – and then re-listing the same gaff for £700 a month more!
Hypocritical? Undoubtedly.
But you must admire Ali’s flair for economic growth.
Perhaps she should be Chancellor.
Top Marks for putting Aimee in Christmas ads
7
White Lotus star Aimee Lou Wood is a great choice for Marks & Spencer’s new advertCredit: Getty
WITH only 137 days to Christmas, thoughts turn inevitably to the big Yuletide commercials.
Marks & Spencer has signed Aimee Lou Wood to front its Christmas campaign – a definite upgrade of last year’s effort (Dawn French as an unfunny fairy).
Aimee was the best thing in the third series of The White Lotus.
The Stockport-born actress, 31, is glamorous yet approachable, charismatic yet relatable. She seems nice. Very British.
The perfect fit to front a Christmas campaign for an institution like M&S.
Aimee definitely has a girl-next-door quality.
If you happen to live next door to one of the hottest names in Hollywood.
Tourism brings beauty, culture, and life to a place — but it also brings a growing problem when visitors fail to respect the land they’ve come to enjoy. In Arunachal Pradesh’s scenic town of Roing, one such incident has now gone viral, sparking both outrage and action. A local man confronted a group of tourists from Assam after spotting them dumping trash in the open, and the exchange — caught on camera — has now become a rallying cry for cleaner public spaces.
The video, posted on Instagram by Jimu Mele, shows the men parked by the roadside, mid-meal, with disposable plates and wrappers strewn nearby. Mele approaches, points to the litter, and questions why they would spoil the very place they’re visiting. He urges them to pick up the garbage, reminding them that the town works hard to keep its surroundings clean. The clip then cuts to the tourists collecting their trash, with one asking if things were fine now — earning a satisfied nod from Mele.
In his caption, Mele voiced his frustration over repeat offenders, particularly some visitors from neighbouring Assam, and announced a new awareness initiative titled Roing is not your Dustbin. As a municipal official, he called on local youth to join forces in protecting the town’s natural beauty. The viral moment has since become a symbol of civic responsibility, proving that sometimes, all it takes to spark change is speaking up.
Netizens react
Several viewers from Assam acknowledged the problem, admitting that many people from their state lack civic sense. Others stressed that the issue isn’t about Assam or Arunachal, but about respecting nature and those who work to keep places clean. Some shared their own responsible travel habits, like carrying trash home after trips, while a few expressed shame and apologised on behalf of the littering tourists. Many agreed that such reminders are necessary to protect the pristine beauty of Arunachal Pradesh.
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