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Firefly Aerospace Mogul Max Polyakov Sells Entire Stake

The move follows earlier demands by the U.S. government for Polyakov to give up his stake over national security concerns.

A Firefly engine test site.

A Firefly engine test site.

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Max Polyakov’s tumultuous run as the owner of Firefly Aerospace appears to have come to an end.

On Thursday, the private equity firm AE Industrial Partners revealed a deal to “to acquire a significant stake in Firefly” from Polyakov’s technology investment arm, Noosphere Venture Partners. Financial terms of the deal were not disclosed in a statement announcing the transaction. Polyakov, however, had been under pressure from the U.S. government to divest his entire stake in Firefly, which is based in Central Texas and makes rockets that carry satellites into space.