Welcome to Biz Briefs! In this edition, SpaceX filed to launch nearly 30,000 additional communications satellites, and received an investment from Italy’s largest bank, Intelsat signed a multi-launch deal with Relativity Space, Axiom and the European Space Agency (ESA) deepened their partnership, Arnhem Space Centre got a new general manager, and much more.

Terran Orbital (NYSE: LLAP) reported record revenue of $32.2 million in the second quarter and a backlog of orders for more than 370 satellites worth in excess of $2.6 billion. The company said the $2.4 billion, 300-satellite constellation it is building for Rivada Space Networks is on schedule, and that the customer is current on all payments.

AST SpaceMobile (Nasdaq: ASTS) said it has raised up to $179 million in additional funds to build its first five BlueBird satellite-to-cell phone communications satellites and to launch them during the first quarter of next year, according to the company’s second-quarter earnings.

Welcome to Biz Briefs! In this edition, Viasat’s newest satellite is in trouble, United Launch Alliance (ULA) delays Vulcan’s first launch, China’s Space Pioneer has raised money to fund its new rocket, Garrett Reisman will advise Vast on space stations, China and Saudi Arabia discuss space cooperation, and lots of satellite news.

Welcome to S-SPACⁱ! In this week’s edition, shares of AST SpaceMobile plunged on a stock sale and questions about the company’s future, Virgin Galactic prepares for its first commercial crewed flight, Intuitive Machines filed to sell more stock, and the latest news about BlackSky, Intuitive Machines, Planet Labs, Redwire, Rocket Lab, Spire Global, and Terran Orbital.

Terran Orbital (NYSE: LLAP) reported a 115 percent year-over-year increase in first-quarter revenue on Monday as the satellite manufacturer trimmed 24 percent off its net loss.

AST SpaceMobile (NAS: ASTS) has disclosed further delays and cost increases in its constellation of satellites designed to provide direct communications with cell phones.

by Douglas Messier
Managing Editor

On Christmas Day 2021, an European Ariane 5 rocket roared off its launch pad in French Guiana with the most expensive payload the booster had ever carried, the $10 billion James Webb Space Telescope. The launcher performed perfectly, sending the most powerful space telescope on a journey to its final destination 1.5 million km (900 million miles) from Earth. The launch was so accurate that Webb should have sufficient propellant to perform science operations for much longer than its planned 10-year lifetime.

There was a collective sigh of relief among the European, American and Canadian scientists and engineers involved in the long-delayed program. It was a superb Christmas gift to a world suffering through the second year of the deadly COVID-19 pandemic.

• Eutelsat and key OneWeb shareholders [1] sign a Memorandum of Understanding with a view to combining Eutelsat and OneWeb in an all-share transaction.
• Eutelsat shareholders and OneWeb shareholders [2] would each hold 50% of the Eutelsat shares
• Compelling financial profile with:
  • Potential for double-digit revenue and EBITDA CAGR over the medium to long term;
  • Eutelsat’s strong cash flow generation providing visibility and funding to support continued expansion into the LEO market through OneWeb’s next generation of satellites;
  • Over €1.5bn potential incremental value-creation after tax (net of implementation costs) stemming from revenue, capex and cost synergies.
• Balanced board and governance structure, to include Eutelsat’s Chairman and its CEO, OneWeb’s Chairman, and a significant number of independent directors proposed by Eutelsat and OneWeb’s shareholders, at Extraordinary General Meeting.
• Fully backed by a strong set of strategic shareholders of both entities, including Bpifrance and Fonds Stratégique de Participations who have undertaken to vote in favour of the transaction-related resolutions at this EGM, subject to usual conditions. CMA CGM, a shareholder of Eutelsat, is also supporting the combination.
• Representing a transformational transaction, built on the strong foundations established in April 2021 with Eutelsat’s initial investment in OneWeb, this combination creates a global leader uniquely positioned to capture the Connectivity market with complementary GEO/LEO [3] offering.
• Combined entity strongly positioned to address the fast-growing global Connectivity market.
• The transaction values OneWeb at $3.4bn implying a value of €12 per Eutelsat share (including the dividend, before synergies).
• Eutelsat to propose a €0.93 per share dividend with a scrip option in respect of FY 2021-22 at its upcoming AGM. Such dividend will not impact the exchange ratio.
• Eutelsat will continue to be listed on Euronext Paris and apply for admission to standard listing on the London Stock Exchange.

PARIS, LONDON, 26 July 2022 (Eutelsat/OneWeb PR) – Eutelsat Communications (Euronext Paris: ETL) and key OneWeb shareholders have signed a Memorandum of Understanding with the objective of creating a leading global player in Connectivity through the combination of both companies in an all-share transaction. Eutelsat will combine its 36-strong fleet of GEO satellites with OneWeb’s constellation of 648 Low Earth Orbit satellites, of which 428 are currently in orbit.

PARIS (Eutelsat Communications PR) — Following recent market rumors, Eutelsat Communications (Euronext Paris: ETL) confirms that it has engaged in discussions with its co-shareholders in OneWeb regarding a potential all-share combination to create a global leader in Connectivity with complementary GEO/LEO activities.

The combined entity would be the first multi-orbit satellite operator offering integrated GEO and LEO solutions and would be uniquely positioned to address a booming ~$16bn (2030) Satellite Connectivity market. OneWeb is one of the two only global LEO networks and has experienced strong momentum over recent months, with service expected to be fully deployed in 2023.