Aerospace Firm Voyager Raises $383M In Upsized Offering, Retail Anticipates Strong Debut

Voyager Technologies (VOYG) raised $383 million in an upsized initial public offering ahead of the aerospace firm's planned listing at the New York Stock Exchange.

According to a regulatory filing, the company sold over 12 million shares for $31 apiece. The IPO pricing exceeded its initial target range of $26 to $29.

As per the filing with the U.S. Securities and Exchange Commission, Morgan Stanley and J.P. Morgan were the joint-lead book-running managers for the proposed offering.

The IPO price gave Voyager a valuation of $1.75 billion based on its outstanding shares.

The Denver-based company was founded in 2019 and caters to government and commercial clients in sectors including national security and space infrastructure.

The company holds a $217.5 million development grant with NASA to design the Starlab space station, which is expected to replace the International Space Station after decommissioning it in 2030.

Voyager plans to operate the proposed space station through a joint venture with equity partners, including Airbus SE, Mitsubishi Corp, MDA Space Ltd, and Palantir Technologies.

It reported a net loss of $26.9 million in revenue of $34.5 million for the quarter that ended March 31, compared with a net loss of $14.8 million in revenue of $30.2 million in the year-ago quarter, as per its filings.

The stock will begin trading on Wednesday with the ticker symbol 'VOYG'.

Retail sentiment on Stocktwits was in the 'extremely bullish' (88/100) territory, while retail chatter was 'extremely high.'

Most retail investors intend to buy the stock after trading starts.

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