Voyager Technologies Inc. is seeking to raise as much as $319 million in an initial public offering, as it looks to capitalize on rising government spending on advanced defense technologies and space exploration.
The Denver-based contractor plans to market 11 million shares for $26 to $29 each, according to its filing Monday with the US Securities and Exchange Commission. At the top of that range, Voyager would have a market value of $1.6 billion based on the outstanding shares listed in its filing.
Janus Henderson Investors and Wellington Management Co. have agreed to purchase as much as $60 million worth of shares in aggregate at the IPO price, the filing shows. The IPO is expected to price on June 10, according to a marketing document.
Voyager reported a net loss of $26.9 million on revenue of $34.5 million in the three months ended March 31, compared with a net loss of $14.8 million on revenue of $30.2 million in the same quarter last year, the filing shows.
Founded in 2019, the company announced in January it had filed confidentially for a listing. It changed its name from Voyager Space the same month to reflect its focus on defense and national security, a statement at the time showed.
Voyager Technologies has a $217.5 million development grant with NASA to design Starlab, the commercial space station planned to replace the International Space Station, which is set to be decommissioned in 2030. Voyager Technologies plans to to operate Starlab through a joint venture with equity partners including Airbus SE, Mitsubishi Corp., MDA Space Ltd. and Palantir Technologies Inc.
Nearly 84% of Voyager Technologies’ revenue last year came from contracts with the US government and its affiliates, the filing showed.
Voyager Technologies Chief Executive Officer Dylan Taylor is a former senior executive of real estate firm Colliers International Group Inc. and the founder of Space for Humanity, a Denver-based nonprofit sending diverse passengers into orbit on commercial space vehicles.
The offering is being led by Morgan Stanley and JPMorgan Chase & Co., the filing shows. The company plans to list on the New York Stock Exchange under the symbol VOYG.
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