A void coalescence term was proposed as an addition to the original void nucleation and growth (NAG) model to accurately describe void evolution under dynamic loading. The new model, termed as modified void nucleation and growth model (MNAG model), incorporated analytic equations to explicitly account for the evolution of the void number density and the void volume fraction (damage) during void nucleation, growth, as well as the coalescence stage. The parameters in the MNAG model were fitted to molecular dynamics (MD) shock data for single-crystal and nanocrystalline Ta, and the corresponding nucleation, growth, and coalescence rates were extracted. The results suggested that void nucleation, growth, and coalescence rates were dependent on the orientation as well as grain size. Compared to other models, such as NAG, Cocks–Ashby, Tepla, and Tonks, which were only able to reproduce early or later stage damage evolution, the MNAG model was able to reproduce all stages associated with nucleation, growth, and coalescence. The MNAG model could provide the basis for hydrodynamic simulations to improve the fidelity of the damage nucleation and evolution in 3-D microstructures.