. 24/7 Space News .
SPACEMART
SatixFy completes business combination with Endurance Acquisition Corp
by Staff Writers
Rehovot, Israel (SPX) Oct 28, 2022

SatixFy develops end-to-end next-generation satellite communications systems, including satellite payloads, user terminals and modems, based on powerful chipsets that it develops in house.

SatixFy Communications Ltd. has completed its previously-announced business combination with Endurance Acquisition Corp. ("Endurance") following the approval of the business combination by Endurance's stockholders on October 25, 2022 and satisfaction of customary closing conditions.

In addition, on October 24, 2022, Endurance and SatixFy entered into a previously disclosed OTC Prepaid Forward Purchase Agreement that calls for purchase and resale of up to 10 million class A shares, subject to the terms and conditions therein. SatixFy has agreed to register the offer and resale of such shares.

Following the business combination, David Ripstein will continue in his role as SatixFy's CEO, Yoav Leibovitch will serve as Executive Chairman, and Endurance's CEO Richard Davis will join SatixFy's Board of Directors.

The combined company's shares and warrants are expected to begin trading on the NYSE American under the symbols "SATX" and "SATX WSA," respectively, beginning tomorrow, Friday, October 28, 2022.

"This is an exciting time for the satellite communications industry, with the emergence of LEO mega-constellations creating a massive opportunity for SatixFy's next-generation technologies," commented David Ripstein, CEO of SatixFy.

"Our unique chips, antennas and satellite payloads are critical for scaling the performance of the new satellites while reducing their operational costs, making 'everywhere, all-the-time' communications practical for diverse types of customers and application. We are confident that this will drive growth for SatixFy, and create significant value and transparency for our existing and new customers."

"Antarctica Capital and the Endurance team are looking forward to continuing our work with SatixFy as they begin this exciting new chapter," said Richard Davis, Managing Director of Antarctica Capital, CEO of Endurance and now a member of SatixFy's Board of Directors.

"SatixFy's unique technology is a key enabler for next generation satellite communications, and its new platform as a publicly-traded company gives it the financial strength needed to close business with the industry's largest players."

In completing the transaction, Cantor Fitzgerald acted as Endurance's capital markets advisor. Davis Polk and Wardwell LLP and Gross and Co served as SatixFy's legal counsel and Morrison and Foerster LLP and Meitar Liquornik Geva Leshem Tal served as Endurance's legal counsel. DLA Piper LLP (US) served as legal counsel to Cantor Fitzgerald.

SatixFy develops end-to-end next-generation satellite communications systems, including satellite payloads, user terminals and modems, based on powerful chipsets that it develops in house.


Related Links
SatixFy Communications
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


SPACEMART
Spacecraft manufacturer Apex emerges from stealth with $7.5M in funding
Los Angeles CA (SPX) Oct 25, 2022
Apex, the Los Angeles-based spacecraft manufacturing company, emerged from stealth Monday with over $7.5M in funding. As the cost to launch satellites and spacecraft to orbit has declined drastically over the last several years, an exponentially increasing number of new commercial and government payloads have entered operation. These payloads, which range from earth observation cameras to next generation communications, require spacecraft platforms, known as satellite buses, to operate. Sate ... 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

SPACEMART
NASA generated $71 billion in economic impact in 2021

NASA to resume spacewalks after investigation into 'close call'

NASA Crew-4 astronauts safely splash down in Atlantic

Eagle-designed space drones target in-orbit construction

SPACEMART
UCF researcher receives NASA award to develop revolutionary rocket engine technology

Gilmour Space partners with Equipmake on advanced motors for rocket program

Gilmour Space offers tech demo satellite mission from Australia in 2024

AFRL upgrades rocket fabrication capabilities

SPACEMART
A close encounter with a mysterious moon

Meteorite that smashed into Mars shook planet

Ancient bacteria might lurk beneath Mars' surface

Traces of ancient ocean discovered on Mars

SPACEMART
Mengtian space lab to undergo final tests before launch

China launches third and final module for Tiangong space station: state TV

China's 'space dream': A Long March to the Moon and beyond

Thermal control designs keep astronauts cool on space station

SPACEMART
SatixFy completes business combination with Endurance Acquisition Corp

Beyond Gravity wins major contract from ULA for Amazon's Project Kuiper constellation launches

Spacecraft manufacturer Apex emerges from stealth with $7.5M in funding

SpaceX California launch sends 53 more Starlink satellites into orbit

SPACEMART
NASA inflatable heat shield finds strength in flexibility

D-Orbit signs launch contract with AAC SpaceQuest

International Space Station maneuvers to avoid debris

PickNik Robotics wins Space Force contract for on-orbit capture

SPACEMART
Discovery could dramatically narrow search for space creatures

Starshade competition challenges students to block starlight for observing exoplanets

Discovery could dramatically narrow search for space creatures

New technique to determine age will open new era of planetary science

SPACEMART
Mars and Jupiter moons meet

NASA studies origins of dwarf planet Haumea

NASA study suggests shallow lakes in Europa's icy crust could erupt

Sharpest Earth-based images of Europa and Ganymede reveal their icy landscape









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.