Space tech firm Voyager descends again after boosted $435 mln convertible bonds sale​

Voyager Technologies

07/11/2025 13:06

** Shares of space defense firm Voyager Technologies VOYG.N down 2.6% to $23.20 on light volume before the bell after above-target capital raise

    ** Denver, Colorado-based VOYG early Fri announced pricing private offering of $435 mln 0.75% 5-yr convertible bonds

        ** Initial conversion price of $30.98 is 30% premium over stock's last close of $23.83

        ** VOYG shares on Thurs closed down >9%, and hit lowest level since co's June debut, after it launched $300 mln offering to support expansion through organic growth and strategic acquisitions

        ** Co intends to use $63 mln of net proceeds to pay cost of capped call transactions; the initial cap price set at $59.58, 150% above stock's last close

** VOYG shares opened at $69.75 on June 11 after co's $383 mln IPO priced at $31

** Shares have fallen for past four sessions for 20% weekly loss

** 2 analysts rate VOYG "strong buy", 1 rates "buy" and 1 recommends "hold"; median PT is $45, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))