Finance

Telesat completed its Lightspeed funding agreements with the government of Canada and the government of Quebec, the operator announced Friday. Telesat now has the financing sources in place to fund Low-Earth Orbit (LEO) satellite network including manufacturing and launching the satellites.  As previously announced, the government of Canada will loan $2.14 billion Canadian dollars and...

Strong product sales fueled 7% year-over-year revenue growth for satellite technology developer SatixFy Communications in the first half of 2024. According to the company’s latest results issued Friday, Satixfy brought in $6.1 million in revenue, yielding a $4.5 million gross profit – a 96% increase from its first half 2023 tally of $2.3 million. The...

Satellite imagery company BlackSky will execute a reverse stock split to raise its share price, the company announced Wednesday.  BlackSky’s shareholders approved the 1-for-8 reverse split during an annual meeting on Sept. 4. The split will be effective at 4:15 p.m. ET on September 6. Over the past six months, BlackSky’s stock has traded between $1.50...

Telesat is selling satellite services business Infosat Communications to Canadian company Network Innovations. Infosat Communications is a satellite services company focused on serving remote business operations. Network Innovations, a technology integrator and cellular, satellite, and managed network solutions provider based in Calgary, Canada, announced the deal on September 3rd. Financial terms of the deal were not...

Slam Corp., the special purpose acquisition company (SPAC) planning to merge with Lynk Global, was delisted from the Nasdaq on Aug. 27 as the company pushed back its deadline to complete the merger.   Slam Corp. said in a press release the delisting was “anticipated” and in line with Nasdaq rules. Slam Corp. shares are now...

Global satellite operator Viasat announced Wednesday that it has hired Delta Air Lines‘ Senior Vice President of Operational Finance Gary Chase as its new CFO. Chase will start with Viasat on September 16. Viasat’s current CFO Shawn Duffy will remain with the company as its chief accounting officer. Chase spent more than 12 years at...

Scottish satellite data startup Space Intelligence completed a Series A funding round led by new investors AzurX Space Ventures (ASV) with participation from Intercontinental Exchange, Inc. Dr. Murray Collins, co-founder and CEO of Space Intelligence said the funding will be used to expand the company’s catalog of global forest mapping data to support carbon offset...

The European space startup scene has been going strong in the past few years despite global financial headwinds. But accessibility of growth-stage funding and too much red tape remains an obstacle for many fledgling space firms. Investment in space tech has dwindled globally since 2021 due to high inflation, rising interest rates and growing distrust...

Swiss satellite IoT company Astrocast delisted from the Euronext Growth Exchange in Oslo, Norway, as leadership decided to take the company private. CEO Fabien Jordan explained the strategy behind the decision in an Aug. 20 LinkedIn post.  Astrocast went public in August of 2021 as the first Swiss company on the Euronext Growth Exchange in...

Mynaric is experiencing production delays on its laser communication terminals, causing the company to slash its revenue guidance. Mynaric updated its guidance on August 20 and also announced the company’s CFO Stefan Berndt von-Bulow left the company for personal reasons last week.  Mynaric now expects revenue in 2024 to range between 16 million euros to...