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🚀 A SpaceX Alternative

🚀 A SpaceX Alternative

January 14, 2022

The Space Scoop

Week Ending 01.14.2022

Happy Friday and a warm welcome to our new readers! The holiday hangover is slowly disappearing as the newswires fire up again. Some space stocks have paused their freefall as Wall Street analysts initiated research coverage on Rocket Lab and Planet. Virgin Galactic got walloped on a debt offering while Virgin Orbit successfully completed its third flight. Lets dive in.

Market Max-Q 📈

Astroscale & Orbit Fab Sign On-Orbit Fuel Sale Agreement

The two companies announced a commercial agreement to break the single-use satellite paradigm. Orbit Fab will refuel Astroscale’s Life Extension In-Orbit (LEXI) servicer satellite in geostationary orbit, making it the first satellite designed to be refueled. Under the agreement, Orbit Fab’s GEO fuel shuttle will resupply Astroscale’s fleet with up to 1,000 kg of Xenon propellant.

Morgan Stanley: "The Space Race is Back"

On Wednesday morning, $MS initiated coverage of $RKLB with an 'Overweight' rating and price target of $17 per share. Analyst Kristine Liwag stated that the "space race is back," but between commercial companies rather than countries. She notes Rocket Lab's proven track record of launching more than 100 satellites into orbit as a stand out amongst peers, calling it "a SpaceX alternative." The firms bull case and bear case price targets are $40 and $6 per share. The stock finished the day +5.4% higher.

Goldman Sachs: Planet Has “First Mover Advantage”

$GS initiated coverage on $PL with a 'Buy' rating and a $11 per share price target, pointing to a first mover advantage for the satellite imaging company. Analyst Noah Poponak states Planet is "the market leader in commercial Earth observation" and notes the opportunity to sell data analytics into many industries is "massive" and "profit margins can be high." Shares finished +10.5% higher on the commentary.

Virgin Galactic Announces $500M Debt Offering

On Thursday, $SPCE announced $425M of convertible senior notes due February 2027, with an option for an additional $75M. Virgin intends to use the proceeds "to fund working capital, general and administrative matters and capital expenditures to accelerate the development of its spacecraft fleet in order to facilitate high-volume commercial service." Shares fell -18.9% on the news.

Texas Announces $10M in Spaceport Trust Fund Grants

Governor Abbott announced $5M in grant awards to both Cameron County and Houston Spaceport Development Corporation Thursday. The STF is a financial tool "to support the development of infrastructure necessary for establishing a spaceport in the state of Texas." The goal of the funds are to help support the creation of quality jobs and attract continuing investments that will strengthen the economic future of the state.

In Other News 🛰️

HawkEye 360 Awarded $15.5M Contract With AFRL

(Company)

The company announced a three-year contract with the Air Force Research Laboratory’s Space Vehicles Directorate. HE360 will provide radio frequency analytics R&D to help the government demonstrate, test and evaluate its hybrid space ISR architecture.

Magnata Networks Raises $33M Series A Round

(Business Wire)

The funding was led by Playground Global, with participation from Temasek, ktsat, Scottish Enterprise, Promus Ventures and MetaVC Partners. The company is developing architecture to connect micro data centers over satellite to extend connectivity to localized 5G, IoT and Wi-Fi networks.

Ursa Space and AWS Data Exchange Announce Collaboration

(Company)

The satellite intelligence infrastructure provider is collaborating with $AMZN's AWS Data Exchange to make satellite data and insights easy to find, subscribe to, and share with partners in the cloud. AWS customers and partners will have access to satellite intelligence at scale.

Cantos Invests $5M In Atomos Space

(PR Newswire)

The VC firm announced the finalized investment with another undisclosed aerospace investor. Atomos, founded in 2017, is building orbital transfer vehicles "to help satellite operators get to their place in space."

Accomack County Announced As Finalist for New Rocket Lab Facility

(Commonwealth)

If selected, the proposal would see $RKLB develop a new facility to support part production, assembly, integration and test operations to support the launch of Neutron from the NASA Wallops Flight Facility.

Quick Links 🔗

• Momentus ($MNTS) President Resigns• Off-Nominal Podcast With Dylan Taylor, CEO of Voyager Space• Elon Musk Reveals Starship Launch and Catch Tower• Rash Sahota Appointed Chief Operating Officer of Isotropic Systems• Voyager Space Appoints Monique Brown as Director of Business Development• Telesat ($TSAT) and ENCQOR 5G Announce Strategic Partnership• AAC Clyde Space ($ACCMF) Receives $500K Order From Space Forge• Thales Alenia Space To Build Intelsat ($INTEQ) 41 and 44 Satellites• The Investor’s Podcast Network Interview With Terran Orbital CEO ($TWNT)• Don Nguyen Joins Relativity Space as Senior Manager of GNC & Performance• MDA ($MDA) Announces Sensor Contract for 2023 Moon Landing• Planet ($PL) Launches 44 Satellites on SpaceX Falcon 9 Rocket• Virgin Orbit ($VORB) Successfully Completes 'Above the Clouds' Mission• Meet Relativity Space: Space.com Interview• Planet ($PL) CEO Joins CNBC To Discuss Changing Revenue Model• Airbus ($EADSY) Contracted To Supply Loft Orbital With Fifteen Satellite Platforms

Opinion 🗣️

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Virgin Galactic ($SPCE): The Best Time To Go Long Is Now

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Diving SPACs Are a Warning for Aerospace Startups

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Jeff Bezos’ Blue Origin Targets Bigger Space Goals

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Space Is Critical – It’s Time We Act Like It

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Do the Sums Behind Musk’s Space Colony Mission Add Up?

Calendar 📅

• $CFV: Merger Vote - 1/24 11:00am EST• $LMT: Q4'21 Earnings - 1/25 11:00am EST• $GD: Q4'21 Earnings - 1/26 BMO• $NOC: Q4'21 Earnings - 1/27 BMO

*Company confirmed dates only.

🚀 A SpaceX Alternative