Starlab Space Station developer Voyager Technologies secured a valuation of $3.8 billion after its shares surged 125 per cent in their New York debut on Wednesday, signalling strong interest in the defense and space sector that is expected to thrive under the Trump administration.
The strong market debut also adds to a steady IPO recovery after months of delays sparked by turbulence stemming from U.S. President Donald Trump’s shifting tariff policies.
The Denver, Colorado–based company’s stock opened at $69.75 apiece, above the $31 offer price. Voyager raised $382.8 million by selling nearly 12.4 million shares in an upsized IPO.
The company’s successful flotation comes months after defense and space systems maker Karman went public. Karman’s stock had more than doubled, as of Tuesday’s close.
Asset managers Janus Henderson Investors and Wellington Management had previously indicated interest in buying up to $60 million of Voyager’s shares in the IPO.
High-risk crypto firm Circle Internet also had a blockbuster debut last week, signaling that risk is back in vogue.
The space industry is undergoing major policy shifts under the Trump administration, which has proposed a $175 billion Golden Dome project that aims to create a missile defense shield in the U.S.
In 2024, Lockheed Martin picked Voyager to supply propulsion and optical guidance systems, vital for the U.S. defense against long-range ballistic missile threats.
NASA granted Voyager $217.5 million to build Starlab, a potential successor to the International Space Station, which Voyager plans to operate with Airbus, Mitsubishi and Palantir, according to an SEC filing.
