. 24/7 Space News .
KLEOS Space funding will start procurement of 2nd cluster of satellites
by Staff Writers
Luxembourg (SPX) Aug 23, 2019

File image of KLEOS Space satellites being assembled at Gomspace

Kleos Space S.A., a space-powered Radio Frequency Reconnaissance data-as-a-service (DaaS) company, is pleased to announce it has entered into a binding term sheet for a EUR 1.83 million debt instrument, to be issued in the form of secured convertible notes.

Andy Bowyer, CEO of Kleos, said, "This investment is targeted to enable us to accelerate business development and revenue generating activities. We will recruit additional product development engineers and strengthen the management team to assist with the delivery of our data products.

Over the coming months we will also recruit sales and sales support professionals to help respond to inbound sales enquiries and manage key accounts, increasing orders and contracts.

The procurement of Kleos' 2nd cluster of satellites can now commence and the launch in 2020 will be booked over the coming months. The second cluster will collect more data which in turn means an improved and higher value product for our customers.

The first tranche convertible notes will have an aggregate face value of equivalent EUR 1.35 million and will be issued at a discount for an aggregate issue price of EUR 1.22 million. The First tranche notes will have an interest rate of 10% per six-month period, may be converted into CDIs at an issue price of equivalent 0.305 EUR per CDI at the election of the investors, and must be redeemed 6 months from the date of issue unless earlier converted by the holder.

The maximum number of CDIs that may be issued on conversion of the first tranche notes is EUR 2.96 million. The investors may elect to subscribe for the second tranche notes which will have an aggregate face value of equivalent EUR 673.000, and will be issued at a discount for an aggregate issue price of EUR 612.000, and will otherwise be issued on the same terms as the first tranche notes.

The maximum number of CDIs that may be issued on conversion of the second tranche notes is EUR 1,480,000. The investors will also be granted up to EUR 917,000 options over CDIs with an exercise price of EUR 0.245 per CDI and a three- year exercise period.

The multi-satellite Scouting Mission system will form the foundation of a constellation that delivers a global picture of hidden maritime activity, enhancing the intelligence capability of government and commercial entities when AIS (Automatic Identification System) is defeated, imagery is unclear, or targets are out of patrol range. The first scouting mission is made up of 4x nano-satellites built by GomSpace in Denmark, each the size of a shoebox.

Related Links
The latest information about the Commercial Satellite Industry

Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Monthly Supporter
$5+ Billed Monthly

paypal only
SpaceDaily Contributor
$5 Billed Once

credit card or paypal

ThinKom Solutions Unveils New Multi-Beam Reconfigurable Phased-Array Gateway Solution for Next-Generation Satellites
Los Angeles CA (SPX) Aug 15, 2019
ThinKom Solutions reveals its new innovative solution for efficient and effective land-based gateways designed to accommodate current and next generation low-Earth-orbit (LEO) and medium-Earth-orbit (MEO) satellite constellations. The new gateway concept, which ThinKom describes as an "array of arrays," will provide a superior alternative to the large "antenna farms" of parabolic dishes currently used for support of geostationary (GEO) satellites. It is based on ThinKom's proven phased-array ... read more

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

NASA astronauts to install docking adapter on ISS during next EVA

EVA complete installation of second Commercial Docking Port on Space Station

A space cocktail of science, bubbles and sounds

Japan steps in to supply key component to Russia's space program

US detect explosion of old European Ariane 4 rocket in space

China launches 3 satellites wth Jielong-1 rocket

SNC selects ULA for Dream Chaser launches

Hall thrusters will enable longer space missions

A step closer to solving the methane mystery on Mars

Ancient Mars was warm with occasional rain, turning cold

All instruments onboard Rosalind Franklin rover

Roscosmos postpones joint ESA ExoMars mission after failed parachute tests

China's newly launched communication satellite suffers abnormality

China launches first private rocket capable of carrying satellites

Chinese scientists say goodbye to Tiangong-2

China's space lab Tiangong 2 destroyed in controlled fall to earth

New Iridium Certus transceiver for faster satellite data now in live testing

ThinKom Solutions Unveils New Multi-Beam Reconfigurable Phased-Array Gateway Solution for Next-Generation Satellites

Embry-Riddle plans expansion of its Research Park through partnership with Space Square

OneWeb secures global spectrum further enabling global connectivity services

Data rate increase on the International Space Station supports future exploration

Air Force certifies first field unit for 3D printing of aircraft parts

Boosting Space Situational Awareness: SMC awards SBIR Phase 2 contract

Norway detects radioactive iodine near Russia

A second planet in the Beta Pictoris System

A rare look at the surface of a rocky exoplanet

Study: NASA data shows Earth-sized exoplanet lacks atmosphere

Does ET exist ponders UVA astronomer

Mission to Jupiter's icy moon confirmed

Giant Impact Disrupted Jupiter's Core

Young Jupiter was smacked head-on by massive newborn planet

Young Jupiter Was Smacked Head-On by Massive Newborn Planet

The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.