Area SPAC Index – Terran Orbital Unveils New Satellite tv for pc Buses

Welcome to S-SPACⁱ! On this week’s version, Terran Orbital unveiled seven new satellite tv for pc buses, Spire carried out a reverse inventory cut up, Intuitive Machines raised $20 million, the previous governor who introduced Virgin Galactic to New Mexico handed away, and rather more.

Terran Orbital unveils seven satellite tv for pc buses

Terran Orbital (NYSE: LLAP) has launched seven standard satellite tv for pc buses for nano-, micro-, mini-, and small-class missions. The buses are named Enterprise, Ambassador, Nebula, Excelsior, Voyager, Renegade, and Triumph.

“This new lineup of satellite tv for pc configurations is derived from Terran Orbital’s lengthy historical past of nanosatellites innovation and its micro satellite tv for pc bus designed and constructed for the U.S. Area Growth Company’s not too long ago launched Tranche 0 Transport Layer mission and the approaching Tranche 1 mission,” the corporate mentioned in a press launch. “Our full product line of seven ITAR-compliant bus lessons ranges from the most important, Enterprise, to the smallest, Triumph.”

Area SPAC Index
September 6, 2023

Terran Orbital buses launched into area

A SpaceX Falcon 9 rocket launched 10 Lockheed Martin satellites that incorporate Terran Orbital buses and payload processors on September 2. The satellites a part of the Area Growth Company’s Tranche 0 Transport Layer army communications satellite tv for pc constellation.

Spire conducts reverse inventory cut up

Spire International (NYSE: SPIR) carried out a 1-for-8 reverse stock split of the corporate’s Class A and Class B frequent inventory on August 31 so as to keep away from being delisted by the New York Inventory Change. A reverse inventory cut up is when numerous shares are exchanged for a smaller variety of shares of larger worth. Spire’s Class A shares have been lowered from 166.8 million to twenty.8 million whereas Class B shares shrunk from 12.1 million to 1.5 million. Spire’s shares, which closed at $0.56 on August 30, completed the buying and selling day at $5.52 on September 6. Spire wanted to get its shares as much as $1.00 or face delisting.

Spire wins NOAA contract

Spire International gained a 12-month, $4.6 million contract to take part within the Nationwide Oceanic and Atmospheric Administration’s (NOAA) Sounder for Microwave-Primarily based Functions (SMBA) Section-A research. Spire will compete with three different corporations to develop a microwave sounder for the company’s Close to-Earth Orbit Community (NEON) satellite tv for pc program. Microwave sounders present insights into atmospheric properties comparable to temperature, humidity, cloud cowl, and composition.

Intuitive Machines raises $20 million

Intuitive Machines (Nasdaq: LUNR) raised $20 million in fairness funding by way of the sale of inventory and warrants. The lunar supply firm will use the funds “for basic company functions and dealing capital wants because the Firm ramps exercise throughout key development applications. Because of this funding, the Firm doesn’t at the moment anticipate the necessity to make the most of the beforehand disclosed and unused $50 million Dedicated Fairness Facility.”

Australian tech to fly on Intuitive Machines lander

Superior Navigation has been awarded AUD $5.2 million (USD $3.3 million) grant by the Australian Area Company to develop and produce its Gentle Detection, Altimetry, and Velocimetry (LiDAV) expertise. The corporate will ship a space-qualified LiDAV sensor named LUNA (Laser measurement Unit for Navigational Support) to Houston-based Intuitive Machines to be used on a future Nova-C lander throughout the car’s descent to the lunar floor.

SatixFy sells subsidiary to MDA

SatixFy (NYSE AMERICAN: SATX) introduced a $60 million transaction to promote the corporate’s digital payload division to MDA and to collaborate on creating satellite tv for pc expertise.

“Immediately’s announcement is an integral a part of that technique and brings SatixFy’s cutting-edge area chipsets into MDA’s digital payloads, representing a powerful step ahead within the commercialization of our expertise. It demonstrates our market management in offering space-grade chips applied sciences for next-generation satellites and positions SatixFy as a number one innovator within the satellite tv for pc communications trade and strengthens our aggressive positioning,” SatixFy Appearing CEO Nir Barkan mentioned in a press launch.

“Moreover, we anticipate that this transaction will enhance our chipset sale into satellite tv for pc digital payloads and can result in elevated collaboration between MDA and SatixFy in new areas. MDA has been a steadfast SatixFy buyer, and we’re thrilled to fortify this relationship additional. As well as, we are going to proceed to develop our floor terminals and chipset providing to the satellite tv for pc communication markets,” Barkan added.

SatixFy publicizes first-half outcomes

SatixFy reported $5.7 million in whole revenues for the primary half of 2023, a rise from the $3.3 million throughout the identical interval final 12 months. The corporate’s gross revenue was $2.3 million, its working loss was $16.6 million, and the online loss was $46.5 million for the primary half of 2023. The corporate had $11.5 million in money and money equivalents on June 30.

Spaceport America champion passes away

Former New Mexico Gov. Invoice Richardson, who was instrumental within the resolution to convey Virgin Galactic (NYSE: SPCE) to his state, handed away in his sleep on September 1 on the age of 75. In December 2005, Richardson and Virgin Group Chairman Richard Branson introduced the state would spend $200 million to construct Spaceport America the place Virgin Galactic can be the anchor tenant.

In a Linkedin post, Virgin Galactic prolonged its “honest condolences” on Richardson’s passing and praised the previous governor for his “visionary assist” of the corporate. CEO Michael Colglazier wrote:

Virgin Galactic’s adventure began in 2005, and it was in that same year that our founder, Sir Richard Branson, first met with Governor Bill Richardson. In this early exchange, Richardson said, “If you’ll bring us a spaceline, we’ll build you a spaceport.” Richard held out a hand and replied simply, “If you’ll build us a spaceport, we’ll bring you a spaceline.” And the rest is history.

Thank you, Bill, for the foresight and vision that welcomed Virgin Galactic to be a part of New Mexico’s rich spaceflight heritage and future. New Mexico is not only a home for the commercial space industry but also home to our team who are sending people to space from the Land of Enchantment.