The EXIM board is expected to vote on Tuesday on the loan, part of a broader U.S. push to support domestic firms in space, AI and advanced manufacturing.
- Firefly is reportedly expected to secure a $110 million EXIM loan to expand spacecraft production in Texas.
- The loan would reportedly carry a 12-month availability period and 10-year repayment term.
- Firefly’s Texas expansion is expected to create about 200 jobs.
Shares of Firefly Aerospace (FLY) declined 5% overnight heading into Tuesday as the rocket and spacecraft maker is reportedly expected to secure a $110 million U.S. Export-Import Bank loan to help expand its spacecraft production facilities in Texas.
FLY stock fell 6% on Monday, posting its second straight session in the red.
Firefly Eyes 10-Year EXIM Loan
The EXIM board is expected to vote Tuesday morning on the loan, which is part of a broader U.S. push to help domestic companies compete globally in sectors such as space, AI and advanced manufacturing. The proposed loan would support Firefly’s spacecraft production ramp in Texas, where the Austin-based company already houses engineering, manufacturing and testing operations, Reuters reported.
The loan would reportedly include a 12-month availability period and a 10-year repayment period. Firefly’s expansion is expected to create about 200 jobs.
FLY Targets Moon And Defense Markets
Firefly Aerospace has been gaining traction after achieving the first fully successful commercial lunar landing with its uncrewed Blue Ghost mission, becoming the first private company to soft-land a spacecraft upright and fully operational on the Moon. Last month, the company secured a $75 million NASA JPL subcontract to deliver four drones to the Moon’s south pole for NASA’s MoonFall mission, targeted for launch no earlier than 2028.
The mission will use Firefly’s Elytra spacecraft to carry the drones to lunar orbit before deploying them near the Moon’s south pole to survey terrain, map landing zones and search for resources such as water ice.
Firefly has said MoonFall builds on its broader lunar backlog, including three additional missions through NASA’s Commercial Lunar Payload Services program. The company is also expanding its cleanroom to support an assembly line for lunar landers and spacecraft.
Firefly’s government business is also expanding through SciTec, its defense tech unit. Earlier this month, SciTec was selected by the U.S. Department of the Air Force to deliver the operational data fusion system for the Cloud-Based Command and Control program. The $5.5 million option was part of an initial $24 million award under the Advanced Battle Management System contract.
How Do Retail Traders Feel About FLY?
On Stocktwits, retail sentiment for FLY was ‘bearish’ amid ‘low’ message volume.
One user said, “$FLY Where are all the buyers for this stock. It lost 50% in a month and earnings are more than before. But the fall is painful. Cheap for its price.”
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Another user said, “$FLY loading up huge here”
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FLY stock has declined 52% over the past year.
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