Voyager Prices $350M Convertible Notes at 30% Premium, Zero Coupon
VOYG sits 81% above its 52-week low of $17.41 on elevated volume (6.7× avg).
Summary
Voyager priced its $350M convertible senior notes due 2032 with a 0% coupon and a conversion price of $40.82, a 30% premium to the last sale of $31.40. The deal includes a $52.5M greenshoe and capped call transactions with a cap price of $78.50. Net proceeds are approximately $340.4M, with $45.7M used to fund the capped calls and the remainder for general corporate purposes. This follows the proposed offering announced on September 22 and the company's recent credit facility expansion and strong Q2 results. The zero-coupon structure and high conversion premium reflect favorable market conditions, but the offering is dilutive if the stock rises above the conversion price. Settlement is expected September 28, 2026.
At the time of this announcement, VOYG was trading at $31.55 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $17.41 to $52.40. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: BusinessWire.