This article is based on an official press release from Starfighters Space.

Starfighters Space Closes $40 Million Reg A+ IPO, Begins Trading on NYSE American

Starfighters Space, Inc., a commercial space company known for operating a fleet of supersonic F-104 Starfighter Military-Aircraft, has officially closed its Regulation A+ Initial Public Offering (IPO). According to the company’s announcement, the offering generated approximately $40 million in gross proceeds. Following the close, the company’s common stock is scheduled to commence trading on the NYSE American exchange today, December 18, 2025, under the ticker symbol FJET.

The capital raise marks a significant transition for the Florida-based company, which operates out of the Kennedy Space Center. Starfighters Space intends to utilize the funds to scale its operations, specifically focusing on the development of its “StarLaunch” air-launch system and the expansion of its aircraft fleet. The company aims to leverage these assets to serve both defense and commercial markets through hypersonic testing and satellite launch services.

Offering Details and Market Debut

The Regulation A+ offering, often referred to as a “Mini-IPO,” allowed Starfighters Space to raise capital from both accredited and retail investors. According to the offering details released by the company, approximately 11.1 million shares were sold at an offering price of $3.59 per share. The offering was hosted on the investment platform Equifund.com, with Digital Offering, LLC acting as the lead selling agent.

In a statement regarding the milestone, Starfighters Space leadership emphasized the strategic importance of the public listing.

“The completion of Starfighter’s successful IPO and related fund raise positions us to unlock significant opportunities ahead as we enter the next stage of our growth… We expect to use the funds… to further drive our research and development efforts, including the development of our STARLAUNCH programs.”

— Rick Svetkoff, Founder and CEO of Starfighters Space

Strategic Expansion: From F-104s to F-4 Phantoms

Starfighters Space currently operates the world’s only commercial fleet of flight-ready Lockheed F-104 Starfighters. These Cold War-era interceptors are capable of sustaining speeds above Mach 2, making them valuable assets for testing scramjets, sensors, and thermal protection systems for defense contractors and partners like GE Aerospace.

However, the newly raised capital is earmarked for significant fleet expansion. According to the company’s roadmap, Starfighters Space is in the process of acquiring 12 McDonnell Douglas F-4 Phantom II aircraft. These heavier fighters are intended to support the “StarLaunch II” program, providing the payload capacity necessary to carry larger rockets and more complex hypersonic test vehicles than the F-104 can accommodate.

The StarLaunch Concept

The company’s business model relies on two primary pillars: hypersonic research and commercial air-launch. The “StarLaunch” system utilizes the aircraft as a reusable first-stage booster. By carrying a rocket to an altitude of approximately 45,000 feet before release, the company aims to launch small satellites into Low Earth Orbit (LEO) with higher frequency and location flexibility than traditional vertical launch pads.

AirPro News Analysis

The successful closing of a $40 million Regulation A+ IPO is a notable achievement in a capital-intensive sector that has seen high-profile struggles recently. The air-launch market has faced skepticism following the collapse of Virgin Orbit in 2023. However, Starfighters Space differentiates itself through its choice of platform. Unlike Virgin Orbit, which utilized a modified Boeing 747, Starfighters employs tactical supersonic jets.

This approach offers distinct advantages for the hypersonic testing market, a sector currently experiencing high demand from the U.S. Department of Defense due to a shortage of high-speed test platforms. While the commercial satellite launch market remains crowded with competitors like SpaceX, the ability of Starfighters to offer supersonic testbeds for scramjet development provides a diversified revenue stream that pure-play launch providers lack. The acquisition of F-4 Phantoms will be a critical execution test for the company as it moves from a niche operator to a publicly traded aerospace firm.

Sources

Sources: Starfighters Space Press Release