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Businesses Space

Sierra Space, Valued At $5.3 Billion, Eyes IPO To 'Accelerate the New Space Economy' (yahoo.com) 26

Sierra Space CEO Tom Vice told Yahoo Finance it plans to go public within the next 18 months at a valuation of $5.3 billion. Since being spun out of defense contractor Sierra Nevada Corporation in 2021, the company has "placed its bets on building out the growing space economy, from developing rocket propulsion technology to a commercial space station with Blue Origin." From the report: Its ambitions have fueled the development of its cargo space plane, the Dream Chaser, set to have its inaugural mission to the International Space Station (ISS) in the second half of this year. Built to land on any commercial runway, the plane will lower the barrier to entry into low-earth orbit and open up business opportunities, Vice said. "Since the 1960s, every science experiment or human being that's come back to earth from space, even today, is still landing in a capsule in the ocean," he said. "We think changing and revolutionizing the way that we bring things back from space, both humans and cargo, and landing [the spacecraft] back at a commercial runway will completely accelerate the new space economy."

"We believe that the next big breakthrough products in oncology, longevity, and industrialized components like glass will be produced in low Earth orbit," Vice said, noting that many of those opportunities are likely to come from the development of commercial space stations to replace the decades-old ISS. Sierra Space has partnered with Blue Origin to build out the Orbital Reef, a commercially owned and operated space station, though recent reports have hinted at tension between the corporate partners. "We're transitioning from decades of government-run space stations with just a handful of government-trained astronauts to the full commercialization of low Earth orbit," Vice said. "We think that's going to create, we believe, probably the most profound industrial revolution and grow that space economy well over a trillion dollars by 2040."

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Sierra Space, Valued At $5.3 Billion, Eyes IPO To 'Accelerate the New Space Economy'

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  • by chirone ( 643355 ) on Thursday April 11, 2024 @02:22AM (#64385526)
    I don't remember the Shuttle "landing" in the ocean
    • Since the 1960s, every science experiment or human being that's come back to earth from space, even today, is still landing in a capsule in the ocean

      Kind of weird to forget about the Space Shuttle. Or, for that matter, the current X-37 used by the US military: it doesn't carry crew, but it is a reusable and lands on a runway. This kind of obvious omission doesn't give one a lot of confidence in the company...

      Or maybe it's the journalism? That quote only seems to appear on bottom-feeding sites like Yahoo, MSN and LinkedIn.

    • Soviet and Russian manned spacecraft don't do water landings, either. They usually parachute onto land. I think these guys just don't have a clue.

  • Not surprising that the valuation is in the billions. after all, it's got such a great heritage! It comes from the venerable Sierra family!

    You should also check out their beer and their old gaming concern!

  • Sierra (Score:5, Funny)

    by kvezach ( 1199717 ) on Thursday April 11, 2024 @04:49AM (#64385758)
    Sierra Space, eh? I wonder if they've got a janitor yet... by the name of Roger Wilco.
  • They value themselves at $5B.

    I value them at a negative number. They have liabilities exceeding their assets and no income.

    I'll take Bitcoin For Free over any amount of Sierra Space stock.

    This is almost as stupid as Trump-Sneakers.

    • This is old school pump and dump. not bitcoin, which is new school pump and dump.

      Just like "unicorns", "weed stocks", "ev stocks" etc etc etc... they will valuate this thru the roof, IPO and dump.

      Stock market is pure gambling now. The only advantage is that USA law requires your retirement manager to place bets. c'ching!

    • They value themselves at $5B.

      I value them at a negative number. They have liabilities exceeding their assets and no income.

      I'll take Bitcoin For Free over any amount of Sierra Space stock.

      This is almost as stupid as Trump-Sneakers.

      Settle down. They have Blue Origin on board as a launch partner. They've clearly got a grip on what they're doing.

      And before I get modded into oblivion, yes. I know. That's the joke.

  • by magzteel ( 5013587 ) on Thursday April 11, 2024 @07:31AM (#64386042)

    From TA: “We spent the last three years de-risking our technology stack, de-risking our capital structure, de-risking our business plan,”

    Is this a new buzzword? Their CEO uses it a lot

  • At this point these "IPOs" are just crowdfunding using the stock market. The basic translation of this move is "We're out of money, please 'buy' some of us so we can have more."
    • This is what an IPO is supposed to be. A company has an idea but needs money/investors to get it off the ground (pun not intended - sort of).

      The current use of IPOs is so that the previous private but rich investors can sell their investment to another sucker before that sucker knows what is going on.

      If they go the route of a SPAC, don't just stay away - run the other way.
      • Yeah, but they're generally expected to already have a business and established product before trying to sell it to people. You're supposed to have a reasonable chance of a return on your investment. This is IPO early access.

        "Give us money, maybe we'll make it, maybe we won't, you don't know."

        Well, I guess it's up to the investors to research the company and decide if they believe their claims. Hope it doesn't tank, but it probably will.

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