Voyager Technologies closes $402.5M convertible notes offering

Voyager Technologies, Inc. (NYSE: VOYG) completed a $402.5 million offering of 0% convertible senior notes due 2032, according to a company press release.

The notes were sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The total includes $52.5 million in notes issued after initial purchasers exercised their option in full.

The notes carry no regular interest and mature on October 15, 2032. The initial conversion rate is set at 24.4978 shares of Class A common stock per $1,000 principal amount, representing a conversion price of approximately $40.82 per share. That price reflects a 30% premium over the $31.40 closing price of Voyager's Class A common stock on September 23, 2026.

Voyager may redeem the notes for cash on or after October 21, 2030, subject to conditions including the stock price exceeding 130% of the conversion price for a specified period. Noteholders may convert before July 15, 2032 only upon certain triggering events, and freely thereafter until two trading days before maturity.

Net proceeds totaled approximately $391.6 million after deducting discounts, commissions, and estimated offering expenses. Voyager said it plans to use approximately $52.5 million to fund capped call transactions entered into alongside the offering, with the remainder allocated to general corporate purposes.

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