The Space Investor - 🚀 D-Orbit Calls Off SPAC

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• Both companies agreed that "financial markets have changed" since the proposed transaction was agreed upon in late January and that terminating the merger "was in the best interests of both parties." 
   
• Hard to say you couldn't see this coming.. Space SPACs have been crushed and D-Orbit was last to the table in the frenzy. They follow Tomorrow.io in cancelling of a SPAC merger. Satixfy, the last pending Space SPAC, is still working to close its deal this calendar year. 

• Momentus ($MNTS): Lowered PT to $5 from $7 by Deutsche Bank; Remains 'Buy'
• Terran Orbital ($LLAP): $8 PT by Stifel; Rated as 'Buy'
• Rocket Lab ($RKLB): Lowered PT to $12 from $16 by Morgan Stanley; Remains 'Overweight'
• Virgin Galactic ($SPCE): Lowered  PT from $7 to $5 by Bank of America, Remains 'Underperform'

• Cash & Equivalents: $202.4M
• Revenue: $7.3M, +162% YoY
• Net Loss: $(8.1)M vs. $(65.1)M YoY  
• BW3 Capitalized Costs: $86.6M
• Patent & Pending Claims: 2,400+
• Delayed BW3 Launch: Late 2023
• Shares: +9.6%

• Expected to launch by Spring 2023, the greenhouse will deliver valuable insights for crop scientists on Earth and expand humanity’s ability to grow full crops, from seed to maturity, in space.

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