WASHINGTON — Shares in Firefly Aerospace rose 34% in the company’s first day of trading on the Nasdaq exchange even after the company increased both the price and number of shares in its initial public offering.

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Jeff Foust writes about space policy, commercial space, and related topics for SpaceNews. He earned a Ph.D. in planetary sciences from the Massachusetts Institute of Technology and a bachelor’s degree with honors in geophysics and planetary science...