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The Space Investor - 🚀 Intuitive Machines To The Moon

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The Space Scoop
Week Ended 02.16.2023
Happy Friday! Intuitive Machines is on its way to the lunar surface and its stock price is already half way there. Rocket Lab received additional Wall Street coverage, $200M was raised by startups this week, and the NewSpace earnings calendar is getting ready for primetime. Lets dive in.

Market Max-Q

Top Stories
1) Intuitive Machines' ($LUNR) Nova-C class lunar lander was successfully launched by SpaceX in the early morning Thursday and is currently in route to the Moon.
  • The IM-1 mission caught a ride from Falcon 9 and was officially commissioned in space after establishing a stable attitude, solar charging, and radio communications contact with mission operations center in Houston, TX.
     
  • The mission is LUNR's first attempted lunar landing as part of NASA’s Commercial Lunar Payload Services initiative. The payloads sent to the Moon’s surface intend to lay the foundation for human missions and a sustainable human presence on the lunar surface in the future.
     
  • Check out the beautifully done, in-depth press kit for the mission.
     
  • Shares had a wild trading week finishing up +47% on the back of a +33% move last week, leaving no room for failure..
     
2) Citi renewed coverage on Rocket Lab ($RKLB) this week and shares rallied +13%.
  • The Wall Street bank renewed coverage of the launch and space systems provider, with a 'Buy' rating and a $6.00 per share price target.
     
  • Analyst Jason Gursky noted the recent $355M fundraising and $515M SDA contract award point to Rocket Lab having “accelerating momentum.”
     
  • The prime contract award is seen as "a sign that the government has taken notice of the company's value proposition," and continued "the funding provides the liquidity necessary to fulfill its existing orders while continuing to develop new products."
     
3) It was quiet week on the space earnings front with only Iridium reporting. Highlights include:
  • $IRDM
    • Revenue: $195M, flat YoY
    • Net Income: $38M vs. $(0.8)M YoY
    • Oper. EBITDA: $114M, +6% YoY
    • Billable Subscribers: 2.3M, +14% YoY
    • Shares: -13%

In Other News
LeoLabs Raises $29M in Financing (PR Newswire)
The oversubscribed round will help scale up insight delivery by further investing in advanced end-user applications and partner integrations. New investors included GP Bullhound, 1941, and Dolby Family Ventures while existing investors Insight Partners, Velvet Sea Ventures, Space Capital, MDSV Capital and an AngelList Syndicate led by Dylan Taylor participate as well.

Heliux Raises $2M in Funding (Payload)
Emerging out of stealth, the AI-powered all-in-one enterprise operating system startup focuses on tracking everything from supply chain to quality control to finance. Investors in the round included New Stack Ventures, Amplify (LA), Crosscut Ventures, Lux Capital, Countdown Capital and strategic angel investors.

K2 Space Raises $50M in Funding (CNBC)
The Los Angeles-based startup will use the capital to build meg class satellites constellations, which it expects to launch their first satellite on a demonstration mission in 2H 2024. The round was led by Altimeter Capital with participation from Alpine Space Ventures.

Skylo Technologies Raises $37M (CNBC)
The “direct-to-device” satellite communications startup is focused on building a network to connect IoT and smartphone devices to via existing satellites, rather than additional antennas or equipment. The round was led by Intel Capital and Innovation Endeavors, with participation from BMW i Ventures, Next47, Samsung Catalyst Fund and Seraphim Space ($SSIT).

Orienspace Raises ¥600M Series B (SpaceNews)
The $83.5M round was raised shortly after the company's successful debut launch and funds will be used for R&D of liquid propellant rocket. Participants in the round included Liangxi Science and Technology Innovation Industry Fund of Funds, Hongtai Fund, Xin Ding Capital, CMBC International Holdings, Shanhang Capital and Shenyin & Wanguo Investment. 

Chart of the Week
Intuitive Machines To The Moon: $LUNR shares have doubled in the last two weeks of trading, touching +120% temporarily on Friday. Traders and investors have bid up the company's shares in anticipation of and based on initial IM-1 Mission success. Here's to you Nova-C!

Links
• MDA ($MDA) Announces $74M Contract With General Atomics Aeronautical Systems

• Sidus ($SIDU) Next Two Satellites, LS-2 and LS-3, Production Underway and on Schedule for Launch in 2H 2024

• BAE Systems ($BAESY) Completes Acquisition of Ball Aerospace

• Northrop Grumman ($NOC) Board Declares Quarterly Dividend

• Rocket Lab ($RKLB) Prepares to Varda Space’s In-Space Manufacturing Capsule Back to Earth

• BlueHalo Acquires Eqlipse for Advanced Defense Applications

Opinion
• Today’s Satellite Boom Was Foretold in Busts of Yesteryear

• How the US Is Preparing To Fight and Win a War in Space

• Stoke Space: The Indepedent Investment Guide

• After Rockets and Spacecraft, Rocket Lab’s ($RKLB) Next Frontier Could Be Applications

• Intuitive Machines ($LUNR) Is Soaring to the Moon. Ride the Momentum?

• The Hard Tech Renaissance Accelerates As Y Combinator Spotlights Space, Manufacturing and Defense

Earnings Calendar
• $RKLB: Feb 27 - After Market Close
• $SPCE: Feb 27 - After Market Close
• $MDA: Feb 28 - Before Market Open
• $BKSY: Feb 28 - Before Market Open
• $GSAT: Feb 28 - Before Market Open
• $SPIR: Mar 6 - After Market Close
• $LLAP: Mar 26 - Before Market Open

*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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