DEAL NOTE: Crowell Advises Firefly Aerospace in $75 Million Series B Financing Round and the Secondary Sale of Noosphere’s Firefly Equity to AE Industrial Partners
Firm News | 1 min read | 03.28.22
Los Angeles, CA –March 28, 2022: The closing of Crowell & Moring client Firefly Aerospace’s $75 million Series B preferred equity issuance and the secondary sale of Noosphere Venture Partners’ equity in Firefly to AE Industrial Partners LLP (AEI) was announced. The transaction values Firefly above its May 2021 Series A valuation of more than $1 billion. These two transactions constitute a change of control of the company, as well as providing Firefly with the resources to deliver new innovations in space launch vehicles.
Firefly, based in Cedar Park, TX, is committed to providing economical and convenient access to space for small-to-medium payloads through the design, manufacturing, and operation of reliable spacecraft and launch vehicles.
AEI, a U.S.-based private equity firm, specializes in aerospace, defense and government services, space, power and utility services, and specialty industrial markets. Its portfolio companies have a history of serving as strategic partners to the top national security agencies. This Series B investment will support Firefly’s next stage of growth by providing capital for future Alpha flights, the Blue Ghost Lunar Lander Program, and the development of additional launch and in-space solutions.
Crowell’s cross-practice deal team was led by corporate partner Renée Delphin-Rodriguez and includes partners Steven Ryan and Jon O'Connell and associates Ryan Flynn and Justin Lurie.
Insights
Firm News | 2 min read | 09.17.25
Agustin Orozco Named to Top 100 Lawyers List by the Daily Journal
Los Angeles – September 17, 2025: The Daily Journal has named Crowell & Moring’s Agustin D. Orozco to its 2025 Top 100 list. The annual list, which has been presented by the publication since 2004, celebrates California’s 100 most influential attorneys.
Firm News | 3 min read | 09.11.25
Asset Based Finance Lawyer Tom Dell’Avvocato Joins Crowell & Moring in London
Firm News | 2 min read | 08.22.25
Firm News | 2 min read | 08.21.25
Latinvex Names Crowell & Moring to List of Latin America's Top Law Firms of 2025