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