BUZZ - Voyager Technologies shares drop due to planned convertible bond deal

September 23 - ** On Wednesday, defense and aerospace technology company Voyager Technologies (VOYG.N) shares fell 16.6% to $31.30, hitting a seven-week low, as the company seeks financing

** VOYG shares are heading for their biggest single-day drop since their initial public offering (IPO) in June 2025 (link)

** The company, headquartered in Denver, Colorado, announced on Tuesday evening it will privately issue (link) convertible bonds with a face value of $350 million, maturing on October 15, 2032

** The company plans to use the net proceeds for general corporate purposes, and partly to fund capped call transactions to mitigate potential equity dilution

** Affected by the day's market, the stock has fallen about 20% year-to-date

** As of Tuesday's market close, the company had a market capitalization of approximately $2.3 billion

** According to data from London Stock Exchange Group (LSEG), of the 11 analysts covering VOYG, 9 rate it "strong buy" or "buy" and 2 rate it "sell"; the median target price is $48

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