🚀 Tokenized SpaceX Equity?

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The Space Scoop

Week Ended 07.03.2025

Happy Friday! And happy Fourth of July weekend to our US readers! Congrats to Rocket Lab -- for their two Electron launches in under 48 hours, York Space -- for their MLB marketing partnership and NASA -- for their Netflix partnership. Lets dive in.

Market Max-Q

Top Stories

1) Robinhood ($HOOD) announced private company tokens this week. 

• On Monday, Robinhood announced tokenized stocks for private companies for its European customers, including the likes of OpenAI and SpaceX. While US users cannot access Robinhood's tokenized equity yet, what even are these?

• Per the company: "When buying stock tokens, you are not buying the actual stocks - you are buying tokenized contracts that follow their price, recorded on a blockchain."

• CEO Vlad Tenev noted that these "effectively give retail investors exposure to these private assets."

• Last week crowdfunding platform Republic also announced token offerings, which will be sold to US investors via a loophole in a 2012 securities law. Per Republic: "With Mirror Tokens, anyone can receive the similar economic outcome as a direct investment in the company."

• How does these work? Mirror Tokens "are structured as a debt security, with the payout date connected with a qualifying event (ie. IPO, acquisition, etc) of the target company. If there is a qualifying event, you will receive a pro-rata payout from RepublicX equivalent to the value of the common shares at the time of the event, plus any dividends accrued."

• OpenAI noted on X that these "are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it." Paper gains anyone?

2) Momentus' ($MNTS) investor relations team was working overtime this week. The company released the following five updates between Monday and Tuesday

• Awarded NASA Contract for In-Space Power System Demonstration

• Won SpaceWERX Contract for Sustained Space Maneuver Challenge

• Announced $4M Offering with Single Institutional Investor

• Partnership with Orbit Fab re: Space Servicing with Podracer and RAFTI Demonstration Flight

• Received Milestone Payments for DARPA Contract re: Assembly of Large Structures in Space

• Shares staged an initial +35% rally on Monday with huge volume, but finished the week down -18%. No love for Momentus..

In Other News

AST SpaceMobiles Secures $100M of Liquidity 

(BW)

In the form of non-dilutive equipment financing from Trinity Capital ($TRIN), the funding will support accelerated manufacturing and network deployment goals in 2025-2026. ASTS also noted it finished Q2 with "over $900M in cash, cash equivalents, and restricted cash."

TransDigm to Acquire Simmonds for $765M 

(RT)

On Monday, aerospace supplier TransDigm announced the acquisition of Simmonds Precision Products from RTX ($RTX) from existing cash on hand. Simmonds produces fuel and proximity sensing and structural health monitoring products.

Castelion Nearing $350M Series B 

(TC)

According to sources and documents viewed by TechCrunch, the hypersonics startup is in process of completing a massive investment round as it attempts to start fielding prototype missiles for the US Army. The round will be led by Lightspeed Venture Partners and Altimeter Capital.

Skynopy Raises €15M Seed

(PS)

The end-to-end connectivity solution for LEO satellite operators will use the fresh funding to to accelerate the expansion of its ground station network, and attempt to meet growing demand for data downlink services. The round was led by Alven, Expansion VC, Omnes Capital, Heartcore Capital and CNES via the SpaceFounders program.

Open Cosmos Acquires Connected 

(Co)

The British smallsat maker announced the acquisition of Portuguese startup developing 5G narrowband connectivity payloads for satellites. Connected will now lead OC's connectivity strategy, offering scalable and affordable solutions for industries ranging from maritime to energy, logistics and beyond.

Chart of the Week

June Performance: June is officially in the books and we have our clear winners: AST SpaceMobile ($ASTS) +103%, BlackSky ($BKSY) +84% and Planet ($PL) +59%. Recent IPO Voyager ($VOYG) was the underperformer falling -31%. Upwards and onwards.

Links

• NASA+ Is Coming to Netflix This Summer• MLB's Colorado Rockies & York Space Systems Launch Jersey Patch Partnership• Blue Origin’s New Shepard Rocket Completes 33rd Mission• AST SpaceMobile ($ASTS) & Vodafone ($VOD) Choose Luxembourg As JV Headquarters• Fisheries and Oceans Canada Extends MDA ($MDA) Contract Providing Continuous Space-Based Maritime Awareness and Security• Sidus ($SIDU) Partners with VORAGO To Advance Radiation-Hardened Compute Capabilities• Planet ($PL) Awarded €240M Satellite Services Deal with the German Government• Rocket Lab ($RKLB) Successfully Completes CDR for SDA's T2TL-Beta Constellation• Redwire ($RDW) Deploys ROSA for the Lunar Gateway’s Power and Propulsion Element• MDA ($MDA) Completes Acquisition of SatixFy ($SATX)

Opinion

• Space Is Hard. There Is No Excuse for Pretending It’s Easy.• A Closer Look at ESA’s Launcher Challenge• Rocket Lab ($RKLB) CEO: One Thing I Don’t Worry About at Night Is Demand• Sir Peter Beck ($RKLB): Accountability, Innovation & Battling Bureaucracy• AST SpaceMobile ($ASTS): A Winner in the Long Run• Intuitive Machines ($LUNR): Risks Decreasing, Valuation Not Quite Right

Earnings Calendar

• $IRDM: Jul 24 - Before Market Open• $LMT: Jul 24 - Before Market Open• $HON: Jul 24 - Before Market Open• $BA: Jul 29 - Before Market Open

*Company confirmed dates only.