Ukrainian founder transfers 58% of Firefly for $1 to his partner due to pressure from US regulators. The stake is worth $500M
- According to Polyakov, he owned 58% of the company. Co-founder Thomas Markusic will receive all of the shares.
- The last known valuation of Firefly Aerospace was over $1 billion, which means that Polyakov’s stake was valued at more than $500 million. He said he had transferred his stake to Markusic for $1.
- Polyakov wrote the reason for that decision was pressure from US regulatory agencies.
“I am giving up for 1 usd consideration all my 58% stake in Firefly to my co-founder and partner Tom. Dear CFIUS, Air Force and 23 agencies of USA who betrayed me and judge me in all your actions for past 15 months. I hope now you are happy. History will judge all of you guys. Max love Ukraine and yes I have Ukrainian passport and I am Founder of Firefly !!! Bye my “bird” and at the end of the days I proud what I done for my Land soul and heritage,” Polyakov says on his Facebook.
In December 2021, it was reported that the Committee on Foreign Investment in the United States asked Polyakov to sell his stake in Firefly Aerospace. As Bloomberg wrote, government and aerospace industry officials have expressed objections to Polyakov’s control of the company amid fears that valuable technology could make its way to Ukraine, Russia, or other nations trying to develop rocket programs. Polyakov said he was willing to go to any lengths to keep the company.
Since 2017, Polyakov has invested about $200 million of his own money in Firefly Aerospace, which was on the verge of bankruptcy as per Arc Technica. During the five years of operation, the company was repeatedly awarded contracts from the US government (1 / 2 / 3 ) and passed all the necessary security checks, Noosphere Ventures reported earlier.