Voyager Technologies Rises in Debut, Signaling Improving IPO Market
Voyager is working with companies including Airbus, Mitsubishi Corp., MDA Space and Palantir on the Starlab space station
Key Points
- Voyager Technologies shares climbed in NYSE debut, signaling an improving IPO market.
- Voyager, working with Airbus and Palantir, intends to operate the Starlab space station.
- Chime Financial’s IPO priced above its expected range, adding to positive IPO market signals.
Shares of space- and defense-technology company Voyager Technologies climbed in their New York Stock Exchange debut, another sign of an improving market for initial public offerings.
Voyager said Tuesday that it was selling 12.35 million Class A shares priced at $31 each. It had expected to sell 11 million shares at a price of $26 to $29 each.
Voyager is working with companies including Airbus, Mitsubishi Corp., MDA Space and Palantir on the Starlab space station planned for low-Earth orbit. It intends to operate Starlab through a Voyager-led and majority-owned joint venture.
Starlab is intended to be the successor to the International Space Station.
Voyager stock ended Wednesday’s regular session at $56.48 and was up 7.1% after hours, to $60.50.
As an additional marker of the IPO environment, fintech Chime Financial’s initial offering priced above its expected range after hours Wednesday.
The 32 million-share offering priced at $27 each, compared with an expected range of $24 to $26 a share.
After a stock selloff linked to tariff concerns earlier this year, The Wall Street Journal reported April 4 that ticketing marketplace StubHub and buy-now-pay-later company Klarna were postponing IPO roadshows.
Since then, there have been recent signs of IPO success, including a blockbuster debut for crypto firm Circle Internet Group, and upsized offerings from Aspen Insurance, trading platform eToro Group and multiple special-purpose acquisition companies.
Circle Internet Group closed up 11%, at $117.20, on Wednesday, compared with its $31 IPO price.
EToro’s IPO priced at $52 and the stock closed down 6%, at $62.96. Meanwhile, Aspen Insurance rose 1.3%, to $32.25, compared with its $30 IPO price.
IPOs in recent weeks include virtual physical-therapy company Hinge Health, whose shares closed down 3.9%, to $35.16, compared with a $32 IPO price. MNTN, a software platform for connected TV advertising, declined 5.9%, to $19.97, Wednesday, after its May IPO priced at $16.