Space tech firm Voyager plumbs fresh depths after convertible bonds sale plans announced

Shares of Voyager Technologies VOYG.N on Thurs fall as much as 12.3% to $23.06, lowest since space defense firm's public debut in June, as it seeks additional capital

Denver, Colorado-based VOYG late Weds announced private offering of $300 mln 5-yr convertible bonds (CBs) to support expansion through organic growth and strategic acquisitions

It also intends to use portion of net proceeds to pay cost of capped calls, derivative transactions employed to help mitigate potential dilution

VOYG shares opened at $69.75 on June 11 after co's $383 mln IPO priced at $31

After the bell Mon, VOYG reported Q3 sales of $39.6 mln, including 31% yr/yr growth in defense and national security segment, and guided 2025 sales to high-end of prior forecast of $165-$170 mln

VOYG shares last down 7.8% at $24.24, falling for fourth straight session, tracking a weekly loss of about 20%

Based on ~59.6 mln shares outstanding, co has roughly $1.4 bln current market cap