Constellations, Launch, New Space and more…

Space SPAC Index: Myairops Integrates Spire Global Weather Data into Software, Astra Space Faces Investigation, Virgin Galactic Class Action Lawsuit

By Doug Messier
Parabolic Arc
January 31, 2023
Space SPAC Index: Myairops Integrates Spire Global Weather Data into Software, Astra Space Faces Investigation, Virgin Galactic Class Action Lawsuit
Richard Branson floats in SpaceShipTwo (Credit: Virgin Galactic)

Welcome to this week’s edition of S-SPACi.

Spire Global’s (NYS: SPIR) weather data is being integrated into myairops’ aviation software in a deepening of the two companies’ strategic data partnership. The updated software will provide customers with additional situational awareness and data insights.

Myairops’ customers will be automatically notified when weather conditions are outside the operators defined minima and supply the latest forecast information directly within the platform. The software will access AI-powered accurate location-specific weather forecasts as input and take into account both natural and man-made variables at each specific airport.

“Building on our existing strategic relationship with Spire was the natural choice following our successful integration of their satellite-based ADS-B tracking data, which our customers have used to automate flight following and improve other operational aspects which rely on accurate location data.” Says myairops President and Managing Director Tim Ford. “Through the use of Spire’s AI-powered weather forecast capability, we will shortly be offering our customers fully integrated weather within our platform. This will enable further automation to provide our customers with further operational efficiencies, as well as powering our weather-based data dashboards and map overlays.”

Space SPAC Index
Jan. 31, 2023

CompanySPACFirst Trading DayOpening Share PriceHighCurrent Price
Arqit (NAS: ARQQ)
Centricus Acquisition Corp.Sept. 7, 2021$9.25$41.52 (9/23/21) $2.11
Astra Space (NAS: ASTR)Holicity, Inc.July 1, 2021$12.30$16.95 (7/2/21)$0.62
AST SpaceMobile (NAS: ASTS)New Providence Acquisition Corp.April 7, 2021$11.63$15.48 (6/30/21)$5.36 (NYS: BBAI)GigCapital4, Inc.Dec. 8, 2021$9.84$16.12 (4/6/22)$3.23
BlackSky (NYS: BKSY)Osprey Technology Acquisition Corp.Sept. 10, 2021$11.80$13.20 (9/16/21)$1.81
Momentus (NAS: MNTS)Stable Road Acquisition Corp.Aug. 13, 2021$10.8512.87 (9/7/21)$0.89
Planet Labs (NYS: PL)dMY Technology Group, Inc. IVDec. 8, 2021$11.25$11.65 (12/8/21)$4.93
Redwire (NYS: RDW)Genesis Park Acquisition Corp.Sept. 3, 2021$10.70$16.98 (10/25/21)$2.59
Rocket Lab (NAS: RKLB)
Vector Acquisition CorporationAug. 25, 2021$11.58$21.34 (9/9/21) $4.94
Satellogic (NAS: SATL)CF Acquisition Corp. VJan. 26, 2022$9.19$10.92 (5/4/22) $3.50
Satixfy (NYS: SATX)Endurance Acquisition Corp.Oct. 28, 2022$8.29$51.70
Spire (NYS: SPIR)NavSight Holdings, Inc.Aug. 17, 2021$10.25 $19.50 (9/22/21)$1.17
Terran Orbital (NYS: LLAP)Tailwind Two Acquisition Corp.March 28, 2022$12.69$12.69 (3/28/22) $1.92
Virgin Galactic (NYS: SPCE)Social Capital HedosophiaOct. 28, 2019$11.79$62.80 (2/4/21)$5.54
Virgin Orbit (NAS: VORB)NextGen Acquisition Corp. IIDec. 30, 2021$8.525$11.28 (1/11/22)$1.67
Stock Price Source: Yahoo Finance

Law Firm Investigates Astra Space

San Francisco-based Schubert Jonckheer & Kolbe LLP (NAS: ASTR) is investigating derivative claims on behalf of stockholders concerning potentially false and misleading statements involving struggling launch provider Astra Space’s decision to go public by merging with Holicity Inc.

Holicity’s investors were drawn to the company’s statements touting its ability to quickly scale its launch operations to meet the demand of a sizeable market,” the law firm said in a statement. “However, in December 2021, market researcher Kerrisdale Capital released a report alleging that Holicity and Astra may have issued several false and misleading statements concerning the company’s prospects and capabilities.

“Specifically, the report alleged that the company made false statements about the frequency of its launch operations and the addressable market for its services. Class action securities lawsuits and a stockholder derivative lawsuit are pending in the U.S. District Court for the Eastern District of New York based on the allegations above,” the company added.

Astra Space abandoned its Rocket 3.3 booster after multiple failures last year. The company is working on developing the larger Rocket 4, which it hopes to conduct flight tests of later this year.

Virgin Galactic Class Action Lawsuit

Jon Ungoed-Thomas of The Guardian recently did an update (‘Wings like cracked eggshells’: Richard Branson faces turbulence over safety of space flights) on the class-action lawsuit against the billionaire and suborbital flight provider Virgin Galactic (NYS: SPCE).

Shareholders allege that Branson and company officials withheld material information about safety defects and other problems with SpaceShipTwo and WhiteKnightTwo before and after Virgin Galactic went public in October 2019 after merging with Chamath Palihapitiya’s Social Capital Hedosophia. Plaintiffs allege that they lost money relying on the company’s false assertions while Branson, Palihapitiya and other defendants made more than $1 billion selling shares. Defendants have denied wrongdoing.

For those who want to delve into the details, you can download the full lawsuit.