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🚀 Satellogic SPAC Delayed

🚀 Satellogic SPAC Delayed

December 23, 2021

The Space Scoop

Week Ending 12.23.2021

Happy Thursday and a warm welcome to our new readers! We had a much needed quiet week on the news front as we inch closer to the holidays. Not all was quiet though as Virgin Orbit fired away five press releases ahead of its proposed merger vote next week. The Procure Space ETF rebalanced and now includes 8 NewSpace names while another SPAC filed with the SEC this week.Sidenote: This will be our last newsletter of 2021. The team is taking next week off, though we will still be tweeting. TSI will return to your inboxes again on January 7th. Happy holidays, stay safe and see you in 2022!

Market Max-Q 📈

CF Acquisition Corp. V Adjourns Special Meeting (Again)

Following merger vote delays from November 12th to December 8th to Decemer 20th, Satellogic's ($CFV) shareholder meeting on Monday adjourned without conducting any other business. Why? The official statement mentions: "to allow additional time to continue discussions regarding potential additional financing for the post-combination company." Should shareholders be concerned? Is $SATL having trouble raising additional PIPE financing in a dry SPAC market? Time will tell. The next shareholder meeting will take place on December 30th at 9AM EST. Shares rallied in the early afternoon to finish +7.7% higher.

Procure Space ETF Rebalance Update

As mentioned in last weeks newsletter, the underlying index of the $UFO ETF rebalanced to include 8 NewSpace companies from 2021, 7 of which were SPACs. Upon market open Monday morning, we received the further detail we were seeking. In total, the 8 additions now account for 16.2% of the fund. Rocket Lab ($RKLB) was the largest addition, accounting for a ~4.8% weight as the ninth largest holding. The other additions include:• $ARQQ: 3.60%• $ASTR: 3.25%• $SPIR: 1.32%• $ASTS: 1.0%• $BKSY: 0.97%• $MNTS: 0.72%• $MYNA: 0.55%

Virgin Orbit Announces Partnership and Stake in Horizon Technologies

$NGCA has signed a term sheet to establish a partnership with Horizon Technologies, a UK-based provider of space-based Maritime Domain Awareness (MDA) through signals intelligence. Virgin Orbit will become Horizon’s preferred launch partner, take an equity stake in the company (amount undisclosed) and appoint a representative to Horizon’s Board. Horizon will also launch with LauncherOne for at least five launches.

Deep Space Acquisition I Files for $210M IPO

On Tuesday, SPAC $DPACU filed with the SEC to list on the NASDAQ by offering 21M shares at $10. If successful, Deep Space would command a market capitalization of $263M. As the name implies, the SPAC will target on "space technology, space-related applications and the integration of space into terrestrial market sectors." It will be led by Jose Ocasio-Christian, current CEO of Caelus Partners and Community in Space; CFO Linda Maxwell, consultant at MB Associates; and COO/CCO Robert Tull, current COO at Procure Holdings (the $UFO ETF provider).

Virgin Orbit and Arqit Expand Launch Agreements

The companies have announced an extension to their current collaborations that will "accelerate space-based encryption services to private, defense and intelligence customers globally." Arqit will exclusively launch with Virgin Orbit for up to 5 launches from Spaceport Cornwall, beginning in 2023. Virgin has also acquired a quantum cloud encryption license from Arqit to provide encryption protection for its launch and space solutions businesses. $NGCA shares were flat on the day while $ARQQ rallied +13.8%.

In Other News 🛰️

Maxar To Build Robotic Arms for DoD

(Company)

$MAXR announced the signing of a $9.3M contract with the Defense Innovation Unit (DIU) of the Department of Defense "to design and deliver two robotic arms to support the in-space assembly and servicing capabilities." The arms are expected to be delivered to DIU within three years.

Luxembourg Invests in NorthStar Earth & Space

(SpaceWatchGlobal)

The Luxembourg Future Fund will co-invest €10M, while the Luxembourg government will provide funding through LuxIMPULSE, their national space program, when applicable. NorthStar provides space monitoring via satellite constellation through optical sensors.

Clay Mowry Joins Voyager Space as Chief Revenue Officer

(PRNewswire)

Mr. Mowry joins Voyager from Blue Origin where he served as the VP of Global Sales. Prior to Blue Origin, Mowry spent 15 years at Arianespace as Chairman and President. As CRO, Mowry will lead revenue and sales operations for the company and its subsidiaries.

BlackSky Expands Global Reseller Network

(Company)

$BKSY announced the addition of geospatial solutions provider Geoimage to its reseller network. The company will leverage BlackSky’s intelligence and imagery to offer real-time insights to customers across the government sector and oil & gas, mining, exploration, agriculture and maritime industries.

Sidus Space Develops Cleanroom For LizzieSat Constellation

(Company)

A clean room is an engineered space, which maintains a very low concentration of airborne particulates. $SIDU LizzieSats are 3D manufactured LEO microsatellites focused "on rapid, cost-effective development and testing of upcoming innovative spacecraft technologies" and will be developed within. The space will allow processing of up to 6 LizzieSats as they develop through integration, assembly and testing.

Quick Links 🔗

• Everyday Astronaut Interview With Rocket Lab ($RKLB) CEO Regarding Neutron• Viasat ($VSAT) Expands Partnership With U.S. Navy To Provide Managed Network Services• OneWeb Welcomes Vocus As First Distribution Partner in Australia• Mynaric ($MYNA) Selected for DARPA Program To Lay Out Future Optical Communications Terminal• Eutelsat ($ETL.PA) Names Eva Berneke Next Chief Executive Officer• NASA and Partners Approve Axiom Space’s Mission 1 Crew• Satellite Renting: Modularity Space Overview• RBC Signals Joins Saber Astronautics’ Marketplace for Space Mission Control• Maxar ($MAXR) Extends Agreements With Three International Defense and Intelligence Customers• Satellogic ($CFV) Announces Appointment of Six New Board Members• Rocket Lab ($RKLB) Announces Redemption of All Outstanding Warrants• Virgin Orbit ($NGCA) Announces the Successful Completion of Rehearsal Prior to Third Launch• Virgin Group Announces Intent to Purchase $100M of Virgin Orbit ($NGCA) Stock in Additional PIPE Investment

Opinion 🗣️

• What Are We Really Witnessing in the New Space Economy?• Astra Space ($ASTR): A Compelling Call Option Into the Massive Small Satellite Delivery Market• Space Economy: 4 Trends To Watch in 2022• $ARKX and $UFO: We Can’t Get Excited About Space Sector ETFs• Virgin Galactic ($SPCE) May Be a Little Bit Too Ahead of Its Time• The ‘Huge Year’ for Space Investing Expected To Continue Into 2022• SpaceX, Virgin Galactic ($SPCE) and Blue Origin Are Driving Affordable Space Travel

Chart of the Year 📊

Calendar 📅

• $NGCA: Merger Vote 12/28 - 9am EST• $CFV: Merger Vote 12/30 - 9am EST• $NOC: Earnings 1/27 - Before the Open

🚀 Satellogic SPAC Delayed