🚀 SpaceX Raising $750M

🚀 SpaceX Raising $750M

January 06, 2023

The Space Scoop

Week Ended 01.06.2023

Happy Friday, Happy New Year, and Welcome Back!2023 kicked off with a bang from SpaceX: rumors of a $750M funding round and a flawless SpaceX Transporter mission. Iridium also announced Qualcomm as their long-time undisclosed satellite mobile messaging partner. Space stocks as a whole finished the first week in the green. Lets dive in.

📈 Market Max-Q

S&P 500: 3,895.07 +1.5%NASDAQ: 10,569.30 +1.0%UFO: 20.26 +4.0%ROKT: 40.62 +3.3%ARKX: 12.78 +3.2%SSIT: 48.00 +6.2%VORB: 2.11 +14.1%BKSY: 1.73 +12.4%LLAP: 1.38 -12.7%SATX: 6.20 -20.2%1W return as of 4:00pm EDT.

🚀 Top Stories

1) SpaceX is rumored to be raising $750M at a $137 billion valuation.

  • According to correspondence obtained by CNBC, venture capital firm Andreessen Horowitz is likely leading the new funding round.

  • This follows the rumors last month reported by Bloomberg that SpaceX was allowing insiders to sell their shares at $77 per share, putting the company’s valuation near ~$140B.

  • One thing is for sure: It does not appear SpaceX will let the broader private market cooling or recessionary concerns slow it down.

 2) SpaceX's Transporter-6 Mission was a success for Space SPACs with Falcon 9 launching 47 payloads for companies, including

  • Planet ($PL): 36 SuperDove EO satellites

  • Spire ($SPIR): Six Lemur-2 satellites

  • Satellogic ($SATL): Two Aleph-1, Albania-1, and Albania-2

  • Momentus ($MNTS): Vigoride-5 space tug

 3) Iridium ($IRDM) and Qualcomm ($QCOM) announced a partnership with for satellite-compatible chips to support satellite messaging in smartphones.

  • The two will enable messaging on Android cell phones via Iridium’s satellite constellation and reported a successful demonstration at the CES trade show this past week in Las Vegas.

  • IRDM decided to not chose a single smartphone manufacturer to support satellite services into a variety of brands with "potential to expand into other consumer devices in the future."

  • Emergency messaging is expected to come to market in 2H 2023 in select regions.

  • Shares: Iridium +13%; Qualcomm+6%

🛰️ In Other News

NorthStar Earth & Space Raises $35M Series C Round 

The Canadian-based space situational awareness firm will use the capital to accelerate product launch and the commercialization of its SSA services. The round was led by by U.S. PE firm Cartesian Capital Group, with participation from Telesystem Space Inc., the Luxembourg Future Fund, the Government of Quebec, and the Luxembourg Space Sector Development Fund SCSp.

📊 Chart of the Week

There aren't many positives to speak about when it came to public markets and space stocks in 2022 as zero companies finished in the green. SatixFY ($SATX), which only went public in late October, outperformed the pack at -24% while Astra ($ASTR) had a tough year down -93%. Here's to a more bullish 2023.

🔗 Links

• Sidus ($SIDU) Awarded Bechtel Cable Assembly Contract for Mobile Launcher 2• Revenue Shortfall Causes Layoffs and Delays at Satellogic ($SATL)• Voyager Space and Airbus ($EADSY) Announce International Partnership for Future Starlab Space Station• Momentus ($MNTS) Welcomes New Chief Commercial Officer and Interim Chief Financial Officer• NGA Awards Maxar ($MAXR) $35.8M Land Cover and Enhanced API Contracts• Hughes ($SATS) Launches Managed Cybersecurity Services for SMID Enterprise Networks• Virgin Orbit ($VORB) Completes Final End-to-End Rehearsal Ahead of U.K. Launch

🗣️ Opinion

• A Year To Forget for Space Stocks• After Doubling Launch Record in 2022, Can SpaceX Take Another Step Up in 2023?• Why Deere ($DE) Thinks Satellites Are the Next Big Technology To Invest In• The Best Space Stock? A Planet Labs ($PL) Analysis• Mynaric ($MYNA): High Risk, Low Reward Space Business• Virgin Galactic ($SPCE): About To Take Off• Dividend-Paying Defense Stocks Rise in Race for Space

📅 Earnings Calendar

• $LMT: January 24 - Before Market Open• $BA: January 25 - Before Market Open• $GD: January 25 - Before Market Open• $NOC: January 26 - Before Market Open

*Company confirmed dates only.