All good space stocks start as Space IPOs and 2025 should see some interesting entrants.
The growing space industry is a new frontier for investors, and an aptly termed space IPO is the beginning of that journey.
About IPOs
An IPO is an Initial Public Offering to both large investors and retail investors. An IPO is the process through which a private corporation becomes publicly traded, by offering its shares to the public for the first time, via an underwriter; usually an investment bank who manages the IPO process and takes a fee (5 to 7%). The underwriter determines the price at which the shares will be sold, based on the anticipated demand and the company’s valuation. They can also conduct roadshows and carefully tailored promotions of the company. Post-IPO, the company’s shares are traded on one or more stock exchanges, where they can be bought and sold by the general investor.
As of writing, several space companies are preparing to IPO:
Voyager Space IPO
Voyager Technologies, Inc. (Voyager) announced on June 2nd 2025 that it has started the customary roadshow for its proposed underwritten initial public offering of 11,000,000 Class A common stock. The IPO price range is expected to be between $26.00 and $29.00 per share. Voyager expects its common stock will be approved for listing, on the New York Stock Exchange, under the ticker symbol “VOYG.” Voyager intends to use the net proceeds from the 2025 IPO to fund strategic growth initiatives (research and development, acquisition of assets) to support its long-term innovation roadmap. A portion of the proceeds may be used for potential mergers and acquisitions aligned with Voyager’s space strategy.
Note: The IPO underwriters have the option to buy an additional 1.65 million shares if investor demand outstrips the initial supply. Ultimately, Voyager could have a of valuation of $1.6 billion.
Sierra Space IPO
As of April 2024, Sierra Space, one of the US space industry’s most prized private companies, plans to go public within the next 18 months, according to its CEO.
Sierra Space was valued at $5.3 billion in its most recent funding round. It was spun out of defense contractor Sierra Nevada Corporation in 2021, and since then has built out the growing space economy: developing rocket propulsion technology, a commercial space station with Blue Origin, a spaceplane.
Sierra Space’s Dream Chaser spaceplane is still in testing and is set to have an inaugural mission to the International Space Station. It is designed and built to return to earth and land on any commercial runway, therefore lowering the barrier to entry into low-earth orbit and open up business opportunities.
Previous IPOs
Astroscale conducted a successful IPO, adding to the list of space stocks in Japan.