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Economic Times
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Space tech firm Voyager valued at $3.8 billion as shares surge in NYSE debut
- Voyager Technologies achieved a $3.8 billion valuation as its shares surged over 125% in their NYSE debut, raising $382.8 million through an upsized IPO.
- The space sector is gaining attention under the Trump administration's proposed $175 billion Golden Dome project for missile defense in the U.S.
- Voyager, founded in 2019, specializes in mission-critical space and defense technology with a backlog of $179.2 million as of March 31.
- Lockheed Martin selected Voyager to supply propulsion and optical guidance systems crucial for U.S. defense against long-range missile threats.
- NASA awarded Voyager $217.5 million for Starlab, a potential International Space Station successor to be operated with Airbus, Mitsubishi, and Palantir.
- The broader space sector views Voyager's IPO as indicative of commercial maturity, following Karman's successful public debut earlier.
- IPOX research associate Muehlbauer mentioned that strong government support amid defense spending increases reduces supply chain risks for such firms.
- Notable asset managers like Janus Henderson and Wellington Management have shown interest in purchasing up to $60 million of Voyager's shares.
- The defense sector's high entry barriers limit IPO candidates, but established companies are finding the current environment conducive for going public.
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