Defense tech business Voyager Technologies closed its very first day of trading 82% greater than its going public rate.
Voyager, which supplies software application for area and defense tech business, priced its New York Stock Exchange launching at $31 per share on Tuesday. It used 12.4 million shares and closed at $56.48 per share on Wednesday. Shares continued climbing up after hours.
Voyager strategies to utilize the money injection from the offering to money financial investment in research study and advancement programs and purchase possessions required for development, the business stated in a declaration on Tuesday. A part of the profits might likewise be utilized to pursue mergers and acquisitions in Voyager’s core company locations. The rest will be utilized for paying back financial obligation and business’s daily requires, the business stated.
Morgan Stanley and JPMorgan collectively led the offering. Early financiers in Voyager consist of nationwide security-focused endeavor companies Industrious Ventures, Marlinspike, and Scout Ventures.
Voyager’s IPO is an outlier since a lot of venture-backed business have actually chosen to remain personal, particularly after the pandemic.
Like numerous tech business that go public, Voyager is unprofitable. Established in 2019, it’s more youthful than peers like Palantir, which was established in 2003 and went public in 2020, and Anduril, which was established in 2017 and stays a personal business.
Voyager likewise relies mainly on one customer: the United States federal government. The business published $144 million in income in 2015, out of which 80% originated from United States federal government work. NASA alone comprised 25% of its sales in 2015. Voyager reported a loss of $66 million in 2024, over double the previous year’s loss, according to a regulative filing.
The IPO pop reveals a renewed interest in defense and area tech business from Silicon Valley and Washington alike. In an inaugural speech in January, President Donald Trump stated that “We will pursue our manifest fate into the stars, releasing American astronauts to plant destiny and Stripes on earth Mars.”
Late last month at the Shangri-La Discussion in Singapore, Defense Secretary Pete Hegseth, who has actually been bullish on battleground tech, stated that America’s armed force will be geared up with the most innovative abilities as part of the 2026 budget plan.
United States military leaders have actually significantly focused on the advancement of AI abilities over the last few years, and wish to develop America’s toolbox in the technological arms race with China They have actually argued that whichever nation controls this tech area will win future disputes
Leading VCs, consisting of Creator’s Fund and Andreessen Horowitz, have actually been putting into defense tech beloveds like Anduril and Guard AI. In March, Guard AI raised $240 million in a financing round, increasing its assessment to $5.3 billion. Recently, Anduril closed a brand-new financing round of $2.5 billion, an offer that more than doubled the defense start-up’s assessment to $30.5 billion.
Source: Business Insider.
