Welcome to S-SPACⁱ! In this week’s edition, Momentus plans a reverse stock split to raise its share price, AST SpaceMobile forms a partnership to battle SpaceX’s Starlink in Kenya, Spire Global to help enhance airline profitability, Intuitive Machines’ lunar rover passes a critical test, Virgin Galactic announces passengers for August suborbital flight, and Redwire is contributing key technology to NASA’s Dragonfly mission.

Rocket Lab moves launches to New Zealand, Planet Labs works with The Nature Conservancy

Welcome to S-SPACⁱ. Nasdaq granted Astra Space a six-month extension to get its stock into compliance before it is delisted while the exchange moved to delist Virgin Orbit’s stock. And Rocket Lab is moving two launches to New Zealand.

Nasdaq said it would suspend Virgin Orbit’s (NAS: VORB) stock on April 13, 2023 due to the company’s Chapter 11 bankruptcy filing last week and its failure to file its 2022 annual report with the Securities and Exchange Commission (SEC). The stock fell to $0.15 in after-hours trading on Monday.

Launch and spacecraft engine supplier Astra Space (NAS: ASTR) says that it won’t learn Nasdaq’s decision on whether to delist its shares or grant the company another six months to get its stock price up to $1.00 per share.

Virgin Orbit’s bankruptcy could have fallout across the space industry. The company estimates it owes $100-500 million to somewhere between “200-999” creditors. The amount includes debts in excess of $15.3 million to four companies — Arqit, BigBear.ai, Redwire, and Spire Global — on the Space SPAC Index.

Welcome to S-SPACⁱ.

A pair of struggling launch provider SPACs — Virgin Orbit and Astra Space — are hoping to stay in business in the weeks ahead.

Lunar exploration company Intuitive Machines will go public on Nasdaq after the approval of a merger with a special purpose acquisition company (SPAC).

• Successfully launched 7 customer satellites onboard its LauncherOne rocket during the Above the Clouds mission on January 13, 2022, the company’s third successful launch.
• Full year 2021 revenue increased to $7.4 million, up from $3.8 million in the prior year period.
• Growing backlog of contracts, including selection by NASA’s launch service program to support the agency’s VADR missions.
• Completed its going public transaction and began trading on the Nasdaq stock exchange on December 30, 2021.

LONG BEACH, Calif. (Virgin Orbit PR) — Virgin Orbit (Nasdaq: VORB) (“Virgin Orbit” or the “Company”), the responsive launch and space solutions company, today announced its financial results for the fourth quarter and full year ended December 31, 2021.

• Five-year partnership builds on existing technology collaboration
• Unlocks advanced image and geospatial products, and tailored AI insights for customers

CHARLOTTE, N.C. (Satellogic PR) — Satellogic Inc. (NASDAQ:SATL), a leader in sub-meter resolution satellite imagery collection, today announced a new partnership with Palantir Technologies Inc. (NYSE:PLTR), a leading builder of operating systems for the modern enterprise. Under the agreement, Satellogic will leverage Palantir’s Foundry platform, accelerating business processes, rapid image product delivery, AI model training, and enterprise-wide data integration. Palantir’s government and commercial customers will have access to Satellogic’s Aleph platform APIs to power their use of Palantir’s MetaConstellation and Edge AI capabilities.

• Class A Ordinary Shares to Commence Trading on Nasdaq on January 26, 2022 under ticker “SATL”
• Gross proceeds to Satellogic will total approximately  $262 million, including cash held in CFV’s trust account and concurrent PIPE financing, as well as the transaction with Liberty Strategic Capital, slated to close in February
• Transaction expected to allow Satellogic to scale its constellation of satellites, collecting and analyzing weekly remaps of the Earth by 2023 and creating a live catalog of every square meter of Earth daily thereafter, enabling immense commercial, sustainability, and government applications

NEW YORK, January 25, 2022 (Satellogic PR) – Satellogic Inc., a leader in sub-meter resolution satellite imagery collection (“Satellogic,” the “Company”), today announced that it has completed its previously announced business combination with CF Acquisition Corp. V (Nasdaq: CFV) (“CFV”), a publicly traded special purpose acquisition company sponsored by Cantor Fitzgerald. The business combination was approved at a special meeting of CFV stockholders on January 24, 2022. Beginning Wednesday, January 26, 2022, Satellogic’s Class A ordinary shares and warrants will trade on the Nasdaq under the ticker symbols “SATL” and “SATLW,” respectively.