Firefly Aerospace (FLY) has entered into a definitive agreement to acquire SciTec for approximately $855 million through a combination of $300 million in cash and $555 million in Firefly shares issued to SciTec owners at a price of $50 per share. The acquisition is expected to close by year end 2025, subject to regulatory approvals and customary conditions. Once finalized, SciTec will be operated as a Firefly subsidiary under its current business model led by Jim Lisowski, current CEO of SciTec, who will report to Firefly’s CEO Jason Kim.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLY:
- Jefferies aerospace & defense analyst holds analyst/industry conference call
- Trump announces lumber tariffs, Exxon Mobil to cut 2,000 jobs: Morning Buzz
- FireFly Aerospace price target lowered to $40 from $60 at Roth Capital
- Morning News Wrap-Up: Tuesday’s Biggest Stock Market Stories!
- Firefly Aerospace Stock (FLY) Plunges 20% After Rocket Explodes