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The Space Investor - 🚀 Viasat To Acquire Inmarsat

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The Space Scoop
Week Ended 06.24.2022
Happy Friday! Markets bounced giving us June's first positive week but most space stocks didn't get the memo. We saw the first official sale of an in-space manufactured item, $20M invested in space startups and bullishness from Wells Fargo on Maxar and Rocket Lab. Lets dive in.

📈 Market Max-Q
S&P 500: 3,911.74 +6.5%
NASDAQ: 11,607.62 +7.5%

UFO: 20.91 +3.5%
ROKT: 35.78 +3.5%
ARKX: 14.07 +4.2%
ORBT: 15.73 -1.3%
SSIT: 59.0 -13.2%

BKSY: 2.42 +19.2%
RDW: 3.17 -18.7%
SATL: 3.59 -28.8%
SIDU: 4.10 -33.4%

1W return as of 4:00pm EDT.

🚀 Top Stories
1) BlackSky ($BKSY) has been awarded a five-year Joint Artificial Intelligence Center (JAIC) contract with the Department of Defense.
  • The basic order agreement has a $241M ceiling and will be used to create and optimize data sets for use in DoD AI models and applications.
2) Wells Fargo named Maxar ($MAXR) and Rocket Lab ($RKLB) as two space stocks investors should buy, describing them as "well-positioned among their peers in the industry."
  • Coverage was initiated on Maxar with an 'Overweight' rating and $39.00 price target. The bank notes that while the company is a firmly entrenched "old space" company, its space infrastructure business provides exposure to "new space" upside. Shares traded +6.3% higher on the news.
     
  • Coverage was also initiated on Rocket Lab with an 'Equal Weight' rating and $5.00 price target. The bank notes a more attainable growth forecast than its peers and believes the service component of the market will capture a significant share of economic value. Shares traded -0.7% lower on the news.
3) Redwire ($RDW) announced the first sale of its space-manufactured optical crystal to researchers at The Ohio State University.
  • The transaction recorded two grams with an approximate value of $2M per kilogram. The optical crystal was manufactured onboard the International Space Station and marks the first time that a space-enabled materials product has been sold on Earth.

🛰️ In Other News
Epsilon3 Raises $15M Series A Round (SpaceNews)
The space software startup's funding was led by Lux Capital, with participation from Moore Strategic Ventures, Y Combinator and MaC Venture Capital. The proceeds will be used to build out more engineering staff.

LeanSpace Raises €6M Seed Round (SpaceRef)
The space mission cloud platform startup had an oversubscribed round, bringing its total raised capital to €8.5M. The round was led by Karista and 42CAP, with participation from Bpifrance.

Velo3D Invests in Plasmos (SpaceNews)
$VLD has made a $250K in-kind investment in the Los Angeles-based propulsion startup. The investment follows synergy between the two companies: Velo3D machines can print 95 percent of Plasmos’ chemical-electric engine and a future space tug.

📊 Chart of the Week
According to Citi, $24.2 billion has privately been invested in space over the last 11 years. The Space Launch Vehicles and Technology Services sub-segments account for 65% of this capital.

🔗 Links
• Tyvak International ($LLAP) Completes Critical Design Review of Milani Satellite

• Sierra Space and Spaceport America Sign MOU for Dream Chaser Spaceplane

• Viasat ($VSAT) Receives Shareholder Approval for Acquisition of Inmarsat

• SpaceX Ramps Up FCC Battle Over Broadband Usage

• Isar Aerospace and D-Orbit ($BREZ) Announce Launch Services Agreement

• Globalstar ($GSAT) Introduces Advanced Edge Platform

• Spire ($SPIR) Awarded $6M NASA Contract Extension

• Rocket Lab ($RKLB) Prepares CAPSTONE Mission for NASA

• SatixFy ($EDNC) Names New CEO To Lead Its Public Transition

• Virgin Orbit ($VORB) Straight Up Launch on Track for 6/29 Launch Window

🗣️ Opinion
• Space Sector ETFs – Sound Exciting, Aren’t

• Op-Ed | Deterring Aggression in Space

• 2023 Will Be the Year That the New Space Bubble Pops

• Op-Ed | There’s No Perfect Space Traffic Management Framework
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TheSpaceInvestor
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Disclaimer: The Space Investor ("TSI") does not provide financial advice. All content is for informational purposes only and is not a solicitation to buy or sell any assets. TSI is not a registered investment, legal, or tax advisor or a broker/dealer.

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