April Mergers & Acquisitions
April 2 Voyager Space Holdings, Inc., which is building a vertically integrated space exploration business, announced that it completed its acquisition of The Launch Company, LLC, a developer of standardized hardware and automation solutions to support launch operations.
April 8 GI Partners L.P. announced that it entered into an agreement with ORBCOMM Inc. to acquire the publicly traded IOT services provider for $1.1b in cash including net debt. At closing, ORBCOMM Inc. shareholders will receive $11.50 in cash per share of common stock a premium of roughly 52% on the company's share price, and the company will be delisted from the Nasdaq Stock Market.
MDA Completes IPO
On April 7, MDA Ltd. completed its initial public offering, issuing more than 28m common shares at a price-per-share of CAN$14 to raise a total of roughly CAN$400m. The company, which was sold by Maxar Technologies Inc. in April 2020, is now publicly traded on the Toronto Stock Exchange.
April Launch Services Performed and Procured
April 5 ABL Space Systems announced that it was selected by Lockheed Martin Corporation to perform up to 26 launch missions through 2025, and up to 32 additional launch missions through 2029, using the RS1 launch vehicle.
April 7, 28 Space Exploration Technologies Corp. successfully launched two more 60-satellite batches for the Starlink system, on each occasion using a Falcon 9 launch vehicle and then recovering the launch vehicle's first stage.
April 19 United Launch Alliance, LLC announced that it was selected by Amazon to perform nine launch missions for Project Kuiper, Amazon's planned 3,236-satellite LEO broadband constellation, using the Atlas V launch vehicle.
April 21 Virgin Orbit LLC announced that it was selected by QinetiQ Inc. and HyperSat LLC to launch six hyperspectral imaging satellites with the LauncherOne system.
April 26 Arianespace S.A. successfully launched another 36 satellites for OneWeb Communications Ltd. on a Soyuz launch vehicle, marking the 6th overall launch for the OneWeb LEO broadband system, which now counts 182 on-orbit satellites.
April 28 Arianespace S.A. successfully launched a Pliades Neo 3 Earth observation satellite for Airbus Defence and Space and five rideshare satellites on a Vega launch vehicle.
Eutelsat Takes Stake in OneWeb with $550M Investment
On April 27, Eutelsat Communications S.A. (Eutelsat) announced that it entered into an agreement with OneWeb Holdings Limited (OneWeb) whereby Eutelsat will invest $550m in OneWeb in cash. The transaction, which marks Eutelsat's first foray into the LEO segment of the commercial space industry, will place Eutelsat alongside Bharti Global Limited, the UK Government and SoftBank Group Corp. as major shareholders of OneWeb, with each holding a roughly 24% equity interest in the satellite broadband company.
April Fundraising Activity
April 12 Satellite-based radio-frequency data analytics company HawkEye 360, Inc. raised $55m in a Series C funding round led by NightDragon, with participation from existing investors Advance, Razor's Edge Ventures, Shield Capital, Dorilton Ventures, Adage Capital and Esri International, bringing to more than $155m the total funding raised by the company to date.
April 13 Orbital Sidekick, Inc. raised $16m in a Series A funding round led by Singapore's Temasek Holdings Limited, with participation from other new and existing investors, to fund development of its six-satellite hyperspectral imaging constellation. The closing of the funding round enables the company to receive an additional $16m from the U.S. Air Force pursuant to an award announced last year.
April 14 Astranis Space Technologies Corp., a microsatellite developer focused on the broadband market, raised $250m in a Series C funding round led by funds managed by BlackRock, Inc., with participation from other new and existing investors, valuing the company at $1.4b.
April 14 Space Exploration Technologies Corp. announced that an investment round first disclosed in February as having raised $850m actually produced $1.164b in new funding.
April 22 Earth imaging startup Albedo Space Corp. raised $10m in a seed funding round led by Initialized Capital, with participation from Liquid2 Ventures, Soma Capital, Jetstream and Rebel Fund.
April 27 Telesat Canada announced the issuance of $500m in 5.625% senior secured notes due 2026 to help fund its $5b Lightspeed satellite broadband constellation.
April 27 Unseenlabs, which is developing a constellation to provide satellite-based maritime radio-frequency geolocation services, concluded a 20m Series B funding round.