Starfighters Space Soars on NYSE Debut, Stock Jumps Nearly 180% Above IPO Price
FJET Opens at $10 Per Share Following $40 Million Regulation A Offering
Starfighters Space Inc. (NYSE: FJET) made a dramatic entrance onto the public markets Thursday, with shares opening at $10 and representing a jump of nearly 180% above the company's initial public offering price of $3.59 per share.
Trading commenced at 10:30 a.m. EST on the NYSE American exchange, marking a significant milestone for the Cape Canaveral-based aerospace company. The strong opening reflects robust investor appetite for space-sector equities and validates the company's unconventional path to public markets.
A Historic Regulation A Listing
Starfighters becomes the first space company to transition from a Regulation A Tier 2 offering to a full NYSE listing. The company raised $40 million through the sale of 11,142,061 shares of common stock at $3.59 per share.
The capital raise occurred in two tranches. The company sold 4,996,697 shares between September 6, 2024, and July 16, 2025, generating approximately $17.9 million. A final closing brought in an additional 6,145,364 shares worth $22.1 million, completing the full $40 million raise.
Digital Offering LLC served as lead selling agent for the public offering, which was hosted on Equifund.com. The Regulation A pathway allowed retail investors to participate in the IPO, a route typically unavailable in traditional underwritten offerings.
Building the World's Largest Commercial Supersonic Fleet
Starfighters operates from NASA's Kennedy Space Center in Florida and claims to be the only commercial company in the world with sustained Mach 2 capability and the ability to launch payloads to space. The company owns and operates the world's largest fleet of commercially flight-ready F-104 supersonic aircraft.
These modified supersonic jets serve as first-stage lifting platforms capable of carrying payloads up to 45,000 feet for air launch to space. The approach offers a reusable, piloted alternative to traditional rocket launches, potentially positioning Starfighters as a cost-effective option for deploying small satellites and payloads into low Earth orbit.
The company's operations extend beyond launch services. Starfighters provides research support, pilot training, space flight training, and hypersonic testing as part of air launch partner development programs.
Funds to Fuel STARLAUNCH Programs
Starfighters plans to deploy the $40 million in IPO proceeds across several strategic priorities. Primary among these are the STARLAUNCH I and STARLAUNCH II programs currently under development.
Both programs are designed to enable sub-orbital launches of small satellites and payloads from the company's F-104 fleet. By leveraging proven aircraft technology and established launch vehicles, Starfighters aims to offer customers a reliable and cost-efficient pathway to space.
CEO and Founder Rick Svetkoff, a former U.S. Navy pilot, outlined the company's near-term focus following the listing. The company is preparing its STARLAUNCH platforms to fulfill existing customer orders, planning expansion of launch operations to Texas, and scaling its hypersonic research and development and test and evaluation platform to generate additional revenue streams.
The Commercial Space Opportunity
The NYSE listing comes as demand for satellite and payload deployment continues to grow. Space and satellite technology has become foundational infrastructure for the modern digital economy, supporting everything from telecommunications and navigation to weather forecasting and national security.
Starfighters is positioning itself to serve this expanding market with what it describes as the potential to become the most cost-effective launch provider in the sector. The air-launch model offers several theoretical advantages over ground-based rocket launches, including greater flexibility in launch scheduling, reduced ground infrastructure requirements, and the ability to reach various orbital inclinations more efficiently.
Investment Considerations
While Thursday's trading debut demonstrated strong initial demand, prospective investors should weigh several factors. The company reported negative EBITDA of approximately $5.6 million over the trailing twelve months, according to financial data services. The firm is pre-revenue from its core launch business, with the STARLAUNCH programs still in development rather than commercial operation.
Additionally, achieving commercial viability will require regulatory approvals, including launch licensing, and successful execution of complex aerospace technology development. The company has disclosed plans to expand operations to Midland, Texas, which will require additional permits and capital expenditure.
The path from a successful IPO to sustained profitability in the commercial space sector has proven challenging for many companies. Investors should consider these development-stage risks alongside the potential opportunity.
Looking Ahead
Starfighters now trades under the ticker symbol FJET on NYSE American, giving retail and institutional investors alike access to a pure-play aerospace company focused on air-launch technology. The strong first-day performance suggests market participants see value in the company's differentiated approach to space access.
For Starfighters, the real work begins now. Converting IPO capital into operational progress on the STARLAUNCH programs, securing launch licenses, and building out the customer pipeline will determine whether Thursday's enthusiasm translates into long-term shareholder value.
The commercial space industry continues to attract significant investment and public attention, and Starfighters has secured its place in that conversation. Whether it can translate its unique supersonic capabilities into a sustainable launch business remains the central question investors will be watching in the quarters ahead.
About Starfighters Space, Inc.
Starfighters Space, Inc. is the only commercial company in the world with the capability to fly at sustained MACH 2 and with the capability to launch payloads to space. Starfighters Space is an organization committed to participating in high-demand commercial space activities. Located at the NASA Kennedy Space Center in Florida, the Company operates a growing fleet of modified supersonic aircraft operationally configurable to act as the first stage lifting platform to carry payloads up to 45,000 feet for air launch to space. Additional activities include support research, pilot training, space flight training, and advanced scientific efforts including hypersonic testing as part of air launch partner development programs. Starfighters Space is working to position its capability to become the most cost-effective launch provider in the sector.
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