🚀 MDA To Acquire SatixFy

Plus the market sell-off continues, Q1 space stock performance, $SPIR $SIDU $SATX earnings and more! The latest space investing news and updates.

April 04, 2025

The Space Scoop

Week Ended 04.04.2025

Happy Friday! And what a not so happy week for markets. Hopefully you can dollar cost average and enjoy the ride.. We have another acquisition on the books, a massive seed round raise, and Q1 earnings calendar taking its shape. Lets dive in.

Market Max-Q

Forward

Top Stories

1) MDA Space ($MDA) to acquire SatixFy ($SATX) for $269M.

  • The Canadian firm will acquire the Israeli satellite chipmaker in a $269M deal made up of $193M of cash at $2.10 per share and $76M payoff of existing debt. The offer includes a +75% premium to SATX's stock price as of March 31st.

  • MDA will use this transaction to further vertically integrate its constellation manufacturing capabilities. The company previously acquired SatixFy's UK-based satellite payload systems and subsystems subsidiary in August of 2023 for $60M.

  • MDA CEO Mike Greenley said noted this deal would "further enhance our value proposition for current and future customers by providing vertically integrated and differentiated digital satellite solutions."

  • The transaction includes a 45-day go-shop period until May 16th for SatixFy to find a competing or better offer for its shareholders. If nothing arises, the deal is expected to close in Q3.

  • SATX shares are down -98% since SPAC IPO highs set in November 2022, but finished the week up +55%. MDA shares closed the week -12% lower.

2) Q4 and FY 2024 earnings officially finished this week with three S tickers. Now we look ahead to 2025. Highlights include:

  • $SPIR

    • Cash & Equivalents: $31M

    • Revenue: $111M, +13% YoY

    • Net Loss: $(103)M vs. $(78)M

    • Adj. EBITDA: $(16) vs. $(25)M

    • FCF: $(45) vs. $(54)M

    • Shares: -2%

  • $SIDU

    • Cash & Equivalents: $16M

    • Revenue: $5M, -22% YoY

    • Net Loss: $(18)M vs. $(14)M

    • Adj. EBITDA: $(13)M vs. $(11)M

    • Shares: -4%

  • $SATX

    • Cash & Equivalents: $14M

    • Revenue: $21M, +92% YoY

    • Oper. Loss: $(23)M vs. $(42)M

    • Net Loss: $(46)M vs. $(30)M

    • Shares: +64%

In Other News

Aetherflux Raises $50M Series A 

(Co)

The space solar power startup was recently awarded its first government funding via the DoD's OECIF. They will now focus on subscale testing of its core technologies ahead of Mission 1 power beaming demonstration from LEO in 2026. The round was by Index Ventures and Interlagos, with participation from Breakthrough Energy Ventures, a16z, NEA, Vlad Tenev, Dan Gallagher, Jared Leto, Laurent and François-Paul Journe, and others.

Portal Space Systems Raises $17.5M Seed 

(SN)

The Seattle-based startup announced an oversubscribed round to support the development and demonstration of its debut Supernova spacecraft. The capital will help scale production and accelerate development for a mid-2026 launch. The round was led by AlleyCorp, with participation from Mach33, FUSE, First In, TFX, Offline Ventures, and Atypical.

Chart of the Week

Q1 Performance: The numbers are in. If you haven't been living under a rock you know that your portfolio has been hit by space debris.. Thankfully, there were some winners that have faired well to date, including: Satellogic ($SATL) +25%, Karman ($KRMN - recent IPO) +11% and AST SpaceMobile ($ASTS) +8%. This week certainly didn't get Q2 off to the right start, but here's to hoping for a better quarter...

Links

• Redwire ($RDW) Appoints Mike Gold as President of Civil and International Space Business To Lead Global Expansion• Sidus ($SIDU) Signs Extended and Amended Preliminary $120M Agreement With Lonestar for Lunar Data Storage Spacecraft• Viasat ($VSAT) Selected by Riyadh Air To Power Streaming Connectivity on Boeing 787 Dreamliner Aircraft• Rocket Lab ($RKLB) Announces Expanded Subsystems and Components Offering With Frontier Radio Products• Planet ($PL) Signs Undisclosed Multi-Year Expansion With onX

Opinion

• Biotech Is The Launchpad for Human Survival in Space• Golden Dome: Who and What Should It Defend?• The State of Launch 2025• Rocket Lab ($RKLB) Lift Off: Huge $5.6 Billion Neutron Win• Planet ($PL): Differentiated Data and Analytics Are Advantages• Spire ($SPIR): Still a Buyer Despite Recent Challenges

Earnings Calendar

• $LMT: Apr 22 - Before Market Open• $IRDM: Apr 22 - Before Market Open• $BA: Apr 23 - Before Market Open• $GD: Apr 23 - Before Market Open• $HON: Apr 29 - Before Market Open• $RKLB: May 8 - After Market Close

*Company confirmed dates only.