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, showcasing robust investor demand for space technology firms.

The company had initially priced its IPO at $31 per share, above its original range of $26 to $29, raising approximately $382.85 million by offering 12.35 million shares. The strong opening performance values Voyager Technologies at over $4 billion, significantly higher than the $1.9 billion valuation implied by the IPO price.

Voyager's successful debut underscores the growing investor appetite for companies operating at the intersection of civil and military space applications. The company boasts high-profile customers including NASA, Palantir Technologies, Lockheed Martin, and the U.S. Air Force. Notably, Voyager has a $217.5 million contract with NASA to design Starlab, a commercial space station set to replace the International Space Station by 2030.

Despite reporting escalating losses in recent financial reports, the market's enthusiastic response to Voyager's IPO signals confidence in the long-term potential of space technology firms. This successful listing could pave the way for more public offerings from other space tech companies, potentially marking the beginning of a new era for the commercial space industry on Wall Street.