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The Space Investor - 🚀 SPACs Issue $500M+ Offerings

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The Space Scoop
Week Ended 09.08.2023
Happy Friday! It was a week of earnings and stock offerings. Lets dive in.

Market Max-Q

Top Stories
1) Off-cycle space earnings rolled in this week, with two SPAC names reporting. Highlights include:
  • $PL
    • Cash & Equivalents: $368M
    • Revenue: $54M, +11% YoY
    • Net Loss: $(38)M vs. $(40)M
    • Adj. EBITDA: $(14)M vs. $(11)M
    • Shares: -11.1%
       
  • $SATX
    • Cash & Equivalents: $12M
    • Revenue: $6M, +71%
    • Oper. Loss: $17M vs. $(13)M
    • Net Loss: $(47)M vs. $(15)M
    • Shares: +9.9%
2) This week was also the week of stock offerings by beaten-up space SPACs.
  • Redwire ($RDW) filed a $400M mixed shelf offering.
     
  • Astra ($ASTR) filed a $100M mixed shelf offering.
     
  • Momentus ($MNTS) announced a $5M direct offering.
     
    • A mixed shelf offering are securities filed with the SEC, but are delayed on the market for up to three years.

In Other News
Anduril Acquires Blue Force Technologies (Company)
The acquisition of the developer of autonomous aircraft will expand Anduril’s suite of capabilities into the group 5 autonomous aircraft space. The terms of the transaction were undisclosed.

Manastu Space Raises $3M Pre-Series A Round (ISN)
The India-based collision avoidance and green propulsion startup will use the funding to continue developing its propulsion system. The round was led by Capital 2B, BIG Capital, and E2MC, with participation from other investors. 

Antaris Raises $3.5M Seed Round (Payload)
The satellite design (from concept to decommission) SaaS platform funding now totals $10M. Streamlined Ventures led the round, with participation from HCVC and E2MC.

Image of the Week
Starship Nears Second Orbital Launch Attempt (SpaceX)

Links
• Terran Orbital ($LLAP) Unveils New Product Line of Seven Satellite Buses

• Iridium ($IRDM) Provides Global Connectivity for XCMG Heavy Equipment

• Viasat ($VSAT) Awarded Space Force Contract for Proliferated LEO Satellite Services

• Redwire ($RDW) Successfully Prints First Human Knee Meniscus on ISS

• Terran Orbital ($LLAP) Launches Responsive Space Initiative

• Rocket Lab ($RKLB) Announces Launch Window for Next Capella Space Mission

• Virgin Galactic ($SPCE) Completes Third Commercial Spaceflight

• Momentus ($MNTS) Regains Compliance With Nasdaq Minimum Bid Price

Opinion
• The European Space Agency Has a Transparency Problem - But It's Legal

• Virgin Galactic ($SPCE): Speculative Bet That’s Ready for Launch

• Rocket Lab ($RKLB): Successful Launches Solidify Earnings Potential

• Alpha-as-a-Service: Bullish Case on Spire ($SPIR)
Forward Forward
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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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