Firefly Aerospace Inc. raised $868 million in an upsized initial public offering, pricing its shares above a marketed range in a reflection of the surging demand for satellite launch services.

Northrop Grumman-backed Firefly Aerospace priced its upsized U.S. initial public offering at $45 per share on Wednesday, raising $868.3 million, and indicating strong demand for the buzzy space technology startup that put a lander on the moon.