Firefly also boosted the size of the IPO. It will raise nearly $870 million from the stock sale. It is selling 19.3 million shares, up from an original proposal of 16.2 million shares. The stock will trade on the Nasdaq under the ticker symbol FLY.

The market cap on Firefly Aerospace ( NASDAQ: FLY) shot to as high as $10 billion before settling back. The market cap was higher than the caps on stocks such as Wayfair ( W ), MGM Resorts ( MGM ), Campbell's Company ( CPB ), and NIO ( NIO ). The stock was swapping hands at $66.10 per share at the last check.

Firefly Aerospace, a Texas-based commercial space company known for its lunar landers, raised $868 million in an upsized IPO.Why it matters: The IPO window is open wide enough to fly a spaceship through it,