Initial Statement of Beneficial Ownership (Form 3)

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * AEROEQUITY GP, LLC 2. Date of Event Requiring Statement (Month/Day/Year) 08/06/2025 3. Issuer Name and Ticker or Trading Symbol Firefly Aerospace Inc. [FLY] (Last) (First) (Middle) C/O AE INDUSTRIAL PARTNERS, LP, 6700 BROKEN SOUND PKWY NW 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed (Month/Day/Year) (Street) BOCA RATON, FL 33487 6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 4,695,184(1) I See Footnotes(2)(3)(4) Common Stock 7,924,721(1) I See Footnotes(2)(3)(5) Common Stock 7,217,573(1) I See Footnotes(2)(3)(6) Common Stock 38,215,447(1) I See Footnotes(2)(3)(7) Common Stock 652,502(1) I See Footnotes(2)(3)(8)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants to Purchase Common Stock	(9)	07/17/2033	Common Stock	100,320	$21.1725	I	See Footnotes(2)(3)(10)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
AEROEQUITY GP, LLC C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X
Glow B Holdings, LLC C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X
Glow C Holdings, LLC C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X
Glow D Holdings, LLC C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X
Glow NS Holdings, LLC C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X
AE CO-INVESTMENT PARTNERS FUND III-F, LP C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X
AE INDUSTRIAL PARTNERS STRUCTURED SOLUTIONS I, LP C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X
GREENE MICHAEL ROBERT C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X
ROWE DAVID H. C/O AE INDUSTRIAL PARTNERS, LP 6700 BROKEN SOUND PKWY NW BOCA RATON, FL 33487		X

Signatures

AeroEquity GP, LLC /s/ Michael Greene, Authorized Signatory		08/06/2025
**Signature of Reporting Person		Date
Glow B Holdings, LLC /s/ Kirk Konert, Authorized Signatory		08/06/2025
**Signature of Reporting Person		Date
Glow C Holdings, LLC /s/ Kirk Konert, Authorized Signatory		08/06/2025
**Signature of Reporting Person		Date
Glow D Holdings, LLC /s/ Kirk Konert, Authorized Signatory		08/06/2025
**Signature of Reporting Person		Date
Glow NS Holdings, LLC /s/ Kirk Konert, Authorized Signatory		08/06/2025
**Signature of Reporting Person		Date
AE Co-Investment Partners Fund III-F, LP /s/ Michael Greene, Authorized Signatory		08/06/2025
**Signature of Reporting Person		Date
AE Industrial Partners Structured Solutions I, LP /s/ Michael Greene, Authorized Signatory		08/06/2025
**Signature of Reporting Person		Date
/s/ Michael Greene		08/06/2025
**Signature of Reporting Person		Date
/s/ David H. Rowe		08/06/2025
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The shares of common stock reported hereby give effect to the automatic conversion of the Issuer's preferred stock pursuant to the Issuer's Twelfth Amended and Restated Certificate of Incorporation. Such securities were held by the reporting person at the time the Issuer's common stock became registered pursuant to Section 12 of the Securities Exchange Act of 1934.
(2)	Glow NS Holdings, LLC is controlled by Glow NS Intermediate Holdings, LLC, its sole member. Glow B Holdings, LLC and Glow NS Intermediate Holdings LLC are controlled by Glow Aggregator, LLC as each entity's sole member. Glow Aggregator, LLC is controlled by AE Industrial Partners Fund II, L.P. as managing member. AE Industrial Partners Fund II, L.P. is controlled by AE Industrial Partners Fund II GP, LP ("AE Fund II GP"), its general partner. Glow C Holdings, LLC, and Glow D Holdings, LLC are controlled by AE Industrial Partners Fund III, LP as managing member. AE Co-Investment Partners Fund III-F, LP and AE Industrial Partners Fund III, LP. are controlled by AE Industrial Partners Fund III GP, LP ("AE Fund III GP"), as each entity's general partner. AE Industrial Partners Structured Solutions I, LP is controlled by AE Industrial Partners Structured Solutions I GP, LP ("AE Solutions GP"), its general partner.
(3)	(Continued from footnote 2) AE Fund II GP, AE Fund III GP, and AE Solutions GP are each managed by each entity's respective general partner, AeroEquity GP, LLC. AeroEquity GP, LLC is controlled by its managing members, Michael Greene and David Rowe. Messrs. Greene and Rowe make all voting and investment decisions with respect to the securities held by AE Industrial Partners. Each of the entities and individuals named above disclaims beneficial ownership of the securities held by AE Industrial Partners, except to the extent of its pecuniary interest therein.
(4)	Held by Glow B Holdings, LLC.
(5)	Held by Glow C Holdings, LLC.
(6)	Held by Glow D Holdings, LLC.
(7)	Held by Glow NS Holdings, LLC.
(8)	Held by AE Co-Investment Partners Fund III-F, LP.
(9)	Warrants are exercisable immediately.
(10)	Held by AE Industrial Partners Structured Solutions I, LP.
Remarks: Exhibit 24.1 - Power of Attorney

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