Voyager Technologies, Inc. (VOYG) rocketed into the public market on Wednesday, with its shares soaring 120.58% in their New York Stock Exchange debut. The defense and space tech company's stock opened at $69.75, more than doubling its initial public offering (IPO) price of $31 per share, reflecting robust investor enthusiasm for the space sector.

The company, which boasts high-profile customers including NASA, Palantir Technologies, Lockheed Martin, and the U.S. Air Force, priced its IPO above the initial range of $26 to $29. Voyager also expanded its offering from 11 million to 12.35 million shares, valuing the company at approximately $1.9 billion at the IPO price. The strong debut underscores the market's appetite for companies operating at the intersection of civil and military space applications.

Voyager's appeal to investors stems from its significant contracts, including a $217.5 million agreement with NASA to design Starlab, a commercial space station set to replace the International Space Station by 2030. The company's potential involvement in national security projects, such as missile-defense systems, further amplifies its attractiveness. Despite posting increasing losses, with a net loss of $65.6 million in 2024, the market appears focused on Voyager's growth prospects and strategic positioning in the expanding space technology sector. As Rob Desborough, managing director of Seraphim Space Investment Trust, noted, "Voyager Technologies' IPO is a significant milestone... indicating its progression towards greater commercial maturity." This successful launch may pave the way for more space tech companies to go public, potentially marking the beginning of a new frontier for investors in the burgeoning space industry.