The space industry received a significant boost on June 11th with Voyager Technologies' highly successful initial public offering (IPO) on the New York Stock Exchange (NYSE). The company raised nearly $383 million by selling 12.35 million shares at $31 each, exceeding its initial expectations. This success is anticipated to encourage more space-focused businesses to pursue public listings.
Voyager Technologies, a six-year-old provider of mission-critical space and defense technology solutions, initially planned to offer 11 million shares, but the strong investor demand led to an upsized offering. Underwriters also secured a 30-day option to purchase up to 1.85 million additional shares, trading under the ticker symbol VOYG. The company’s IPO success is viewed as a significant milestone.
“We believe this successful listing may pave the way for a wave of public offerings from other high-quality space companies,” said Rob Desborough, managing director of Seraphim Space Investment Trust and an early Voyager investor. Desborough highlighted the increasing demand for companies utilizing dual-use commercial/government technologies across various sectors including space, defense, and climate-related fields. “This listing may serve as a reference point for other space companies considering public offerings in the future,” he added.
While Karman Space & Defense began trading on the NYSE in February, space-related IPOs have been relatively scarce. Despite earlier optimism fueled by expectations of a more favorable regulatory environment, ongoing geopolitical tensions and potential tariffs created market volatility. However, recent weeks have shown a rebound in IPO activity, and Voyager's success represents a positive trend.
Voyager intends to utilize its IPO proceeds for research and development, acquisitions, and growth initiatives, notably its ambitious Starlab project—a commercial space station designed to succeed the International Space Station.