Voyager Technologies raises nearly $400 million in first public stock offering

The Starlab design in 2025. Click
for original image.
The space station startup Voyager Technologies has now raised $383 million during its first public stock offering this week, with the possibility of more investment capital to come.
The six-year-old provider of mission-critical space and defense technology solutions sold 12.35 million shares at $31 each, pricing above the $26–$29 range it marketed last week. The Denver-based company had initially planned to offer 11 million shares.
Underwriters also have a 30-day option to purchase up to 1.85 million additional shares of the company’s Class A common stock, up from 1.65 million, trading under the ticker symbol VOYG.
Of the four private commercial space stations under development, Voyager is the only one to have so far built nothing. Its station, dubbed Starlab, is conceived as a single large module launched on SpaceX’s Starship/Superheavy rocket. Though the company has obtained a $217.5 million development grant from NASA, and is partnering with Airbus, Northrop Grumman, and the European Space Agency, it has focused so far all of its work on design.
We must assume the company intends to use this additional public capital to begin some construction. It likely needs to if it is to have any chance of winning NASA’s major contract for building the station itself, since all of its other competitors are doing so. My present rankings for these four projects:
- Haven-1, being built by Vast, with no NASA funds. The company is moving fast, with Haven-1 to launch and be occupied in 2026 for an estimated 30 days total. It hopes this actual hardware and manned mission will put it in the lead to win NASA’s phase 2 contract, from which it will build its much larger mult-module Haven-2 station..
- Axiom, being built by Axiom, has launched three tourist flights to ISS, with a fourth to launch momentarily, carrying passengers from India, Hungary, and Poland. Though there have been rumors it has cash flow issues, development of its first module has been proceeding more or less as planned.
- Orbital Reef, being built by a consortium led by Blue Origin and Sierra Space. Overall, Blue Origin has built almost nothing, while Sierra Space has successfully tested its inflatable modules, including a full scale version, and appears ready to start building its module for launch.
- Starlab, being built by a consortium led by Voyager Space, Airbus, and Northrop Grumman, with an extensive partnership agreement with the European Space Agency. It recently had its station design approved by NASA, but it has built nothing. The company however has now raised $383 million in a public stock offering, which in addition to the $217.5 million provided by NASA gives it the capital to begin some construction.
The Starlab design in 2025. Click
for original image.
The space station startup Voyager Technologies has now raised $383 million during its first public stock offering this week, with the possibility of more investment capital to come.
The six-year-old provider of mission-critical space and defense technology solutions sold 12.35 million shares at $31 each, pricing above the $26–$29 range it marketed last week. The Denver-based company had initially planned to offer 11 million shares.
Underwriters also have a 30-day option to purchase up to 1.85 million additional shares of the company’s Class A common stock, up from 1.65 million, trading under the ticker symbol VOYG.
Of the four private commercial space stations under development, Voyager is the only one to have so far built nothing. Its station, dubbed Starlab, is conceived as a single large module launched on SpaceX’s Starship/Superheavy rocket. Though the company has obtained a $217.5 million development grant from NASA, and is partnering with Airbus, Northrop Grumman, and the European Space Agency, it has focused so far all of its work on design.
We must assume the company intends to use this additional public capital to begin some construction. It likely needs to if it is to have any chance of winning NASA’s major contract for building the station itself, since all of its other competitors are doing so. My present rankings for these four projects:
- Haven-1, being built by Vast, with no NASA funds. The company is moving fast, with Haven-1 to launch and be occupied in 2026 for an estimated 30 days total. It hopes this actual hardware and manned mission will put it in the lead to win NASA’s phase 2 contract, from which it will build its much larger mult-module Haven-2 station..
- Axiom, being built by Axiom, has launched three tourist flights to ISS, with a fourth to launch momentarily, carrying passengers from India, Hungary, and Poland. Though there have been rumors it has cash flow issues, development of its first module has been proceeding more or less as planned.
- Orbital Reef, being built by a consortium led by Blue Origin and Sierra Space. Overall, Blue Origin has built almost nothing, while Sierra Space has successfully tested its inflatable modules, including a full scale version, and appears ready to start building its module for launch.
- Starlab, being built by a consortium led by Voyager Space, Airbus, and Northrop Grumman, with an extensive partnership agreement with the European Space Agency. It recently had its station design approved by NASA, but it has built nothing. The company however has now raised $383 million in a public stock offering, which in addition to the $217.5 million provided by NASA gives it the capital to begin some construction.