Kleos Space S.A, a space-powered Radio Frequency Reconnaissance data-as-a- service (DaaS) company, has secured A$12.6 million (equivalent to 9.3 million USD) from new and existing institutional and sophisticated investors in Australia and the U.S. via a Placement of approximately 14,823,529 new CHESS Depositary Interests over Kleos ordinary shares (CDIs) at A$0.85 (~0,63 USD) per CDI (Placement).

The Placement includes cornerstone investments from Perennial Value Management and Thorney Investment Group.

Commenting on the Placement, Kleos CEO Andy Bowyer said, "I am extremely pleased to welcome new high-calibre institutional investors Perennial and Thorney to the register. The strong support we have received from new and current investors reflects Kleos' significant technical and commercial progress that is accelerating rapidly."

The Placement proceeds will be used to fund the launch of future satellite clusters and to scale Kleos' data-as-a-service offering.

Placement details The 14,823,529 CDIs will rank equally with existing ordinary CDIs of the Company and will be issued under the Company's issuing capacity in accordance with ASX Listing Rule 7.1A. Settlement is expected to occur by 10 September 2021, with allotment expected to occur on 15 September 2021. The 8,894,118 Options will be issued under ASX Listing Rule 7.1.

The A$0.85 (~0,63 USD) Placement price represents a 9.6% discount to the 30-day volume weighted average trading price and is inclusive of three attaching options for every five CDIs issued, exercisable at A$1.20 and expiring three years from the date of issue.

Related Links
Kleos Space
The latest information about the Commercial Satellite Industry

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

NASA works to give satellite swarms a hive mind
Greenbelt MD (SPX) Sep 03, 2021
Swarms of small satellites could communicate amongst themselves to collect data on important weather patterns at different times of the day or year, and from multiple angles. Such swarms, using machine learning algorithms, could revolutionize scientists' understanding of weather and climate changes. Engineer Sabrina Thompson is working on software to enable small spacecraft, or SmallSats, to communicate with each other, identify high-value observation targets, and coordinate attitude and timing to ... read more