Finance

SES has announced details of a new dividend payment to shareholders. The SES Board of Directors has approved the payment of an interim dividend of 0.25 euros ($0.28) per A-share (0.1 euros per B-share) to be paid to shareholders in October, in line with the announcement made in February 2024 and SES’s commitment to shareholder...

Spanish satellite IoT startup Sateliot has raised a 30 million euro ($33 million) Series B funding round, led by Global Portfolio Investments. This deal makes Global Portfolio Investments, a Spanish investment group, one of the company’s main shareholders.  Sateliot plans to use the capital to build-out its constellation of 100 IoT satellites that operate under...

Two former Comtech CEOs — Fred Kornberg and Michael Porcelain — released a letter to shareholders on Monday arguing for a slate of eight new board members, and a strategic review for the company’s 911 business, among other changes.  Kornberg is the former longtime CEO of Comtech who led the company from 1976 to 2022.  Porcelain...

Iridium Communications is launching a $500 million share buyback — the fourth stock repurchase in the past four years. Iridium’s board of directors authorized the share buyback on Sept. 19 and it is the largest-ever share buyback.  The share repurchase timeline extends through December 31, 2027. After completing the Iridium NEXT satellite constellation refresh, Iridium...

PARIS — The satellite industry continues to attract investors excited by the potential returns, but financiers are scrutinizing the business plans, growth rates, and exit plans for investments in the sector. Investors are being more cautious toward space-based investments right now, Chirag Kapadia, executive director, UBS, said during an investor panel at World Space Business...

Telesat completed its Lightspeed funding agreements with the government of Canada and the government of Quebec, the operator announced Friday. Telesat now has the financing sources in place to fund Low-Earth Orbit (LEO) satellite network including manufacturing and launching the satellites.  As previously announced, the government of Canada will loan $2.14 billion Canadian dollars and...

Strong product sales fueled 7% year-over-year revenue growth for satellite technology developer SatixFy Communications in the first half of 2024. According to the company’s latest results issued Friday, Satixfy brought in $6.1 million in revenue, yielding a $4.5 million gross profit – a 96% increase from its first half 2023 tally of $2.3 million. The...

Satellite imagery company BlackSky will execute a reverse stock split to raise its share price, the company announced Wednesday.  BlackSky’s shareholders approved the 1-for-8 reverse split during an annual meeting on Sept. 4. The split will be effective at 4:15 p.m. ET on September 6. Over the past six months, BlackSky’s stock has traded between $1.50...

Telesat is selling satellite services business Infosat Communications to Canadian company Network Innovations. Infosat Communications is a satellite services company focused on serving remote business operations. Network Innovations, a technology integrator and cellular, satellite, and managed network solutions provider based in Calgary, Canada, announced the deal on September 3rd. Financial terms of the deal were not...

Slam Corp., the special purpose acquisition company (SPAC) planning to merge with Lynk Global, was delisted from the Nasdaq on Aug. 27 as the company pushed back its deadline to complete the merger.   Slam Corp. said in a press release the delisting was “anticipated” and in line with Nasdaq rules. Slam Corp. shares are now...