Voyager Technologies surged after hours on its first day of trading, with shares jumping 82% above their $31 offering price to close at $56.50 on the New York Stock Exchange.
The stock, which opened at $67 and briefly touched $73.95, trades under the ticker VOYG and gives the defence and space technology firm a valuation of roughly $3.5 billion.
Voyager raised $382 million by selling 12.35 million shares, up from the 11 million originally planned.
The company, whose clients include NASA, Palantir and Lockheed Martin, is developing the Starlab space station under a $217.5 million NASA contract.
Despite reporting a $65.6 million loss in 2024, investor interest in space technology firms remains strong, following similar IPO successes from the likes of Karman Holdings.
Analysts suggest demand is being fuelled by the dual commercial and military potential of space systems as public markets open up to the sector.