Starlab Space Station developer Voyager Technologies secured a valuation of $3.8bn after its shares more than doubled in their New York debut on Wednesday, signalling strong interest in the defence and space sector that is expected to thrive under the Trump administration.
The strong market debut also adds to a steady IPO recovery after months of delays sparked by turbulence stemming from US President Donald Trump's shifting tariff policies.
The Denver, Colorado-based company’s stock opened at $69.75 apiece, above the $31 offer price. Voyager raised $382.8m by selling nearly 12.4-million shares in an upsized IPO.
The company’s successful flotation comes months after defence and space systems maker Karman went public. Karman’s stock had more than doubled by the close of trade on Tuesday.
Asset managers Janus Henderson Investors and Wellington Management had previously indicated interest in buying as much as $60m of Voyager’s shares in the IPO.
High-risk crypto firm Circle Internet also had a blockbuster debut last week, signalling that risk is back in vogue.
The space industry is undergoing major policy shifts under the Trump administration, which has proposed a $175bn Golden Dome project that aims to create a missile defence shield in the US.
In 2024, Lockheed Martin selected Voyager to supply propulsion and optical guidance systems, vital for the US defence against long-range ballistic missile threats.
Nasa granted Voyager $217.5m to build Starlab, a potential successor to the International Space Station, which Voyager plans to operate with Airbus, Mitsubishi and Palantir, according to a filing with the Securities and Exchange Commission.
Reuters
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