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The Space Investor - 🚀 Sidus Acquires Exo-Space

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The Space Scoop
Week Ended 08.25.2023
Happy Friday! It was a generally quiet week on the news front unless you were an investor in Exo-Space, which was acquired, or Momentus, which underwent an inevitable reverse stock split. Lets dive in.

Market Max-Q

Top Stories
1) Exo-Space has been acquired by Sidus Space ($SIDU) for an undisclosed amount.
  • On Tuesday morning, the Nasdaq-traded Space Data-as-a-Service (SDaaS) satellite company announced the purchase of on-orbit edge computing solution startup Exo-Space.
     
  • Pursuant to the terms of the acquisition agreement, Sidus has acquired Exo-Space's assets in a combination of cash, stock options, and performance bonus incentives.
     
  • “This acquisition expands our talent, technology, and total addressable market. Along with sales contracts and existing AI technology, the transaction includes the acquisition of Exo-Space’s collective experience in AI and machine learning” said Carol Craig, Founder & CEO of Sidus.
     
  • While terms of the deal were undisclosed, CEO of SpacedVentures Aaron Burnett notes that "the internal rate of return (IRR) on the deal for investors was as high as +38%." He continued "The acquisition by Sidus is huge win for retail investors, who saw the importance of AI in space before most venture firms did."
     
  • Exo-Space raised ~$208k from 240 investors between June 2021 and April 2022 via a convertible note at a $7.5M valuation.

In Other News
Axiom Space Raises $350M Series C (Company)
The space infrastructure provider's round of growth capital was led by Aljazira Capital and Boryung Co., with participation from other deep-tech VC funds and strategic brand partners. Axiom has now raised $505M+ from investors and is only second to SpaceX in terms of capital raised by a private space company.

HEO Raises $8M Series A (SpaceNews)
The Australia-based startup specializes in non-Earth imagery where they do not have own and operate their own satellite constellation. The startup uses space-based sensors to inspect and image objects in orbit. The round was led by Airtree Ventures, with participation from Salus VC, Y Combinator, In-Q-Tel, David Harding and Steve Baxter.

Thrive Capital Acquires Hypergiant Industries (Payload)
The private equity firm has acquired the Austin-based software provider building an AI-powered decision-making product related to defense, space, and critical infrastructure industries. Thrive acquired Hypergiant to build out partnerships with its other portfolio companies. The terms of the transaction were undisclosed.

Chart of the Week
BryceTech Q2 Briefing: SpaceX is the leader when it comes to launches and upmass. (Source)

Links
• Justice Department Sues SpaceX, Alleging Discrimination Against Refugees

• Satellogic ($SATL) and Quant Data & Analytics Announce Three-Year Agreement

• Hughes ($SATS) Awarded Space Force IDIQ Contract for LEO Satellite Services

• SDA Taps Mynaric ($MYNA) for Optical Ground Station Project

• Sierra Space and Redwire ($RDW) Partner To Bring In-Space Biotech Facilities to Customers

• Rocket Lab ($RKLB) Launches 40th Electron Mission and Successfully Flies Reused Engine

• Momentus ($MNTS) To Provide Hosted Payload Services for FOSSA Systems

• Viasat ($VSAT) Provides Status on Anomaly of Inmarsat-6 F2

Opinion
• Can Space Investment Become Cool Again?

• Starship, Starlink, and Some SpaceX-Conomics

• Does Verizon ($VZ) Need a Phone-to-Satellite Strategy?

• AST SpaceMobile ($ASTS): Q2 Earnings – More Clarity but Not Completely Reassuring

• How India Pulled Off Its Frugal Moon Landing

Earnings Calendar
• $PL: Sept 7 - After Market Close

*Company confirmed dates only.
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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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