Defense company Voyager makes successful NYSE debut

Space and defense technology company Voyager Technologies Inc. made its debut on the U.S. market last week, with its shares surging more than 82% on its first day of trading, according to Space News.

Voyager Technologies raised $382.8 million in its initial public offering (IPO) in the U.S. amid global pressure to increase military spending, according to Reuters.

The company, which provides mission-critical space and defense technology solutions, sold about 12.35 million shares with some investors at a price of $31 per share, above the target range of $26-$29 per share.

Voyager shares have been trading on the New York Stock Exchange (NYSE) since June 11, under the ticker symbol "VOYG.” Shares closed at $49.50 on June 12, down 12.4% from their initial public offering.

Morgan Stanley and JPMorgan Chase & Co. were the lead underwriters for the offering. Underwriters have a 30-day option to purchase up to 1.85 million additional shares of the company's Class A shares, up from 1.65 million, Space News reported.

"We believe this successful listing could 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 one of Voyager's early investors, according to Space News. "This listing can serve as a benchmark for other space companies considering public offerings in the future,” Desborough said.

The Voyager offering is the latest in weeks as the U.S. IPO market regains its composure after being constrained by volatility stemming from the administration's tariffs on major trading partners.

The Denver, Colorado-based company's IPO comes as President Donald Trump seeks to dramatically increase spending on defense and space projects. Trump last month selected a model for his $175 billion "Golden Dome” project, a next-generation U.S. missile shield. According to the Financial Times, Trump has promised to have it operational by the end of his term. The U.S. budget proposal includes an initial $25 billion allocation to begin construction on the shield.

The White House official signed an executive order in the first week of his new term to officially launch the shield, considered the most ambitious in US history, capable of intercepting hypersonic missiles and preventing a nuclear catastrophe. Trump stressed: "President Reagan wanted this, but he didn't have the technology. We have it now. The Golden Dome will be able to intercept missiles even if they are launched from the other side of the globe or from space."