Sierra Space, a spin-off of Sierra Nevada Corporation, has reportedly put the wheels in motion for an IPO and intends to make its market debut within the next 18 months.
Sierra Space Plans Possible IPO To Boost ‘Space Economy’
The private aerospace company divulged its intention when discussing the maiden flight of its spaceplane and the escalation of its satellite footprint.
Tom Vice, LinkedIn
According to a CNBC Manifest Space interview with Sierra Space’s CEO Tom Vice, the Eclipse satellite initiative will handle missions in the low-earth and cis-lunar orbits. Yahoo Finance reported that the company wants to raise capital to “provide optionality” for its expanding business and quoted Vice, who said:
We spent the last three years de-risking our technology stack, de-risking our capital structure, de-risking our business plan. But now we look at the public markets over the next 12, 18 months, and we’ll make a decision on what the right timing for us is.
During its latest funding drive, Sierra Space attained a $5.3bn valuation and has since hedged its bets on the mushrooming space economy, which includes its advancements in rocket propulsion and the Blue Origin space station collaboration. The organisation’s newly developed shipment spaceplane, Dream Chaser, will undertake its first mission to the International Space Station (ISS) during the latter half of 2024.
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Based on Yahoo Finance data, Dream Chaser can purportedly land on any commercial runway and, as such, will decrease the entry barrier into low-earth orbit. In January 2024, this organisation also clinched a $740m Pentagon contract.
