The Space Investor - 🚀 Sierra Space Preps For IPO

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• The Colorado-based cargo space plane and LEO habitat company is making preliminary plans to hit the public markets while also exploring potential acquisitions. 
   
• The company has begun laying the groundwork internally, CEO Tom Vice told Bloomberg News on Thursday. While exact timing has yet to be determined in this quiet period for IPOs, Sierra plans to take the step “when the market looks like it’ll give us the right credit for valuation.”
   
• "We want access to the public markets. We’ve been working for a year and a half to make sure that we are public company ready," Vice said. The Company is looking to a successful inaugural Dream Chaser spaceplan flight to “give us another data point that the Board will take into consideration as we look at a potential IPO,” Vice concluded.
   
• Sierra's valuation hit more than $5B as of September 2023 after its latest capital raise.
   

• $BA Defense, Space & Security:
  • Revenue: $25B, +8% YoY
  • Oper. Earnings: $(1.7)B vs. $(3.5)B YoY
  • Oper. Margin: (7.1)% vs. (15.3)% YoY
  • Backlog: $520B, +29% YoY
     
• $RKLB (Preliminary):
  • Revenue: $59 - 61M
  • Net Loss: $(53) - (49)M
  • Adj. EBITDA: $(30) - (28)M
     

• The Company has been informed by the U.S. Dept of Treasury that the Committee on Foreign Investment in the United States (CFIUS) has approved the exit from the agreement and its termination, following the completion all requirements of the NSA entered into July 2021.
   
• “The end of the CFIUS process is an enormous positive step for Momentus that culminates more than two years of intensive work by everyone in the Company. . . Momentus has now emerged from this rigorous process clear of any lingering security concerns," said CEO and Chairman John Rood.
   
• Shares closed +41.8% on Wednesday and finished +30.4% for the week.

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