Space tech firm Voyager plumbs fresh depths after convertible bonds sale plans announced

Voyager Technologies

06/11/2025 19:07

** Shares of Voyager Technologies VOYG.N on Thurs fall as much as 12.3% to $23.06, lowest since space defense firm's public debut in June, as it seeks additional capital

    ** Denver, Colorado-based VOYG late Weds announced
     private offering of $300 mln 5-yr convertible bonds (CBs) to support expansion through organic growth and strategic acquisitions

** It also intends to use portion of net proceeds to pay cost of capped calls, derivative transactions employed to help mitigate potential dilution

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

** After the bell Mon, VOYG reported Q3 sales of $39.6 mln, including 31% yr/yr growth in defense and national security segment, and guided 2025 sales to high-end of prior forecast of $165-$170 mln

** VOYG shares last down 7.8% at $24.24, falling for fourth straight session, tracking a weekly loss of about 20%

** Based on ~59.6 mln shares outstanding, co has roughly $1.4 bln current market cap

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

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