🚀 Voyager's +100% IPO Debut

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The Space Scoop

Week Ended 06.13.2025

Happy Friday! There's another public space stock on the markets and nearly ~$250 million of VC fundings were announced. Lets dive in.

Market Max-Q

Top Stories

1) Redwire ($RDW) announced an amendment to its Edge Autonomy acquisition agreement on Monday, which was completed on Friday.

• The original deal, announced in January, included $150M in cash and $775M in shares. The revised deal includes $160M in cash and $765M in shares (subject to $5M holdback).

• The cash consideration will include an unsecured promissory note of $100M issued by a subsidiary of Redwire to the seller at the closing with interest accruing at 15-18% payable in cash or in kind.

• TCBI Securities, JPMorgan Chase, Bank of America and Truist committed to provide debt financing in aggregate amount of no less than $90M.

• RDW finished the week up +3.4%

2) Voyager Technologies ($VOYG) completed a successful public markets debut.

• On Wednesday, the long-teased public company began trading on the NYSE with 14M shares of common stock sold at $31 per share, above the $26-29 expected range. Implying a valuation of $1.75B, net proceeds from the offering total approximately $400M following underwriters fully exercised their option. Raised capital will fund the Company's strategic growth initiatives.

• "This is an incredible market signal for the investability of the space industry," said Meagan Crawford of SpaceFund. Rob Desborough of Seraphim Space Investment Trust ($SSIT) noted “We believe this successful listing may pave the way for a wave of public offerings from other high-quality space companies.”

• Shares traded as high as +91% on Day 1 and finished the week +75% higher.

• Did you buy any shares? If no, are you waiting or passing?

In Other News

Muon Space Raises $89.5M Series B1 

(Co)

The mission-optimized satellite constellations startup will use the funds to lead a major scale-up of operations. The new capital includes $44.5M in equity and $45M in credit facilities. This extension follows the initial $56M Series B close in August 2024. The round was led by Congruent Ventures and included existing investors.

Look Up Raises €50M Series A 

(SIR)

The French space situational awareness startup funding round includes equity, bank debt and public grants and will be used to build additional ground-based radars. The round was led by ETF Partners, which contributed €24M.

Logos Space Raises $50M Series A 

(SN)

The high-performance satellite-based connectivity services startup will utilize the funding to accelerate headcount, R&D, and deepen partnerships with commercial, launch and government players. The round was led by U.S. Innovative Technology Fund (USIT).

Quantum Space Closes $40M Series A Extension 

(Co)

Bringing the total round to $57M, funding will accelerate the development of Ranger, their maneuver-first spacecraft platform purpose-built for multi-orbit defense missions. Investors included Prime Movers Lab, Sporos Capital, 1802 Ventures, AnD Ventures and others. 

Aethero Space Raises $8.4M Seed 

(PS)

The space computer and autonomous spacecraft startup funding will support two upcoming orbital demonstrations. The round was led by Kindred Ventures, with participation from Neo, Giant Step Capital, O’Shaughnessy Ventures and Alumni Ventures.

POLARIS Spaceplanes Raises €5.4M Seed Extension 

(ESF)

The developer of the multipurpose spaceplane and hypersonic transport system, AURORA, has now raised a total of €12.4M following the oversubscribed seed extension round. The round was co-led by Capnamic Ventures Bremen and Spacewalk VC, with participation from Dienes Holding and E2MC Ventures.

Chart of the Week

Estimated SpaceX Valuation: From ARK Invest and Mach33, the two research teams released a report on the Expected Value of SpaceX in 2030. Claiming a ~$2.5 trillion enterprise value, the two explore bull and bear cases for the Company including 17 key independent inputs to simulate a range of potential outcomes, including Mars, and its enterprise value in 2030 and 2040. (Source)

Links

• EchoStar ($SATS) Prepares Potential Bankruptcy Filing Amid FCC Review• AST SpaceMobile ($ASTS) Set To Join the Russell 1000 Index Effective June 27• BlackSky ($BKSY) Gen-3 Delivers First Imagery 12 Hours Following Launch• Vocus & Telesat ($TSAT) Announce Multi-Year Lightspeed Terrestrial Infrastructure and Services Contract• Rocket Lab ($RKLB) Signs MOU with Nikon SLM Solutions for Ultra-Large Metal Additive Manufacturing Platform• Sierra Space Launches Dedicated Defense Business• Vaya Space Announces $4M Strategic Partnership with Velo3D ($VLDX) To Advance Additive Manufacturing for Space Propulsion• NATO Selects Planet ($PL) for Seven-Figure Contract for Advanced Daily Monitoring & Early Warning Capabilities• Redwire ($RDW) Completes Acquisition of Edge Autonomy• Viasat ($VSAT) Agrees to Binding Term Sheet for $568M with Ligado To Settle Inmarsat’s Opposition to Restructuring• AST SpaceMobile ($ASTS) Agrees To Receive Long-Term Spectrum Usage Rights for 80+ Years To up to 40 MHz of L-Band MSS Spectrum in the United States & Canada Held by Ligado

Opinion

• $ARKX: The Space ETF That Could Be Your Portfolio’s Golden Dome• NASA’s 2026 Budget Proposal in 7 Charts• Watch Space Capital’s #SpaceCapitalSummit 2025 Sessions• Disney Star Bridgit Mendler Gave It All Up To Change the World