Voyager Technologies descends on $350 mln convertible debt deal plans

Defense and space tech company Voyager Technologies' shares were down 11% at $33.41 in extended trading as it seeks a capital raise.

Denver, Colorado-based Voyager said it is offering privately $350 million in convertible bonds due Oct. 15, 2032.

It intends to use net proceeds for general corporate purposes, and some to pay the cost of capped call transactions to help offset potential dilution.

VOYG ended down 0.3% at $37.53 on Tuesday, trimming its year-to-date gain to about 44%.

The company has a market cap of roughly $2.3 billion.

Nine of 11 analysts covering VOYG rate the stock "strong buy" or "buy," while two rate it "sell"; the median price target is $48, according to LSEG.