SatixFy’s 3099 processor chip, as presented on SatixFy’s website.

SatixFy Communications is now a publicly traded company after completing its special purpose acquisition company (SPAC) merger with Endurance Acquisition Corp. The satellite technology company began trading on Friday on the NYSE American under the symbol SATX. 

In addition Endurance and SatixFy announced a previously disclosed OTC Prepaid Forward Purchase Agreement that calls for purchase and resale of up to 10 million class A shares. SatixFy has agreed to register the offer and resale of such shares.

SatixFy, headquartered in Israel, is a vertically integrated fabless semiconductor chip company that offers products based on its own chipsets. The company produces chips, software, modem and digital beamforming antenna products in-house. It has agreements in place with Telesat, OneWeb, ST Engineering iDirect, and Airbus. 

“This is an exciting time for the satellite communications industry, with the emergence of LEO megaconstellations creating a massive opportunity for SatixFy’s next-generation technologies,” commented David Ripstein, SatixFy CEO. “Our unique chips, antennas and satellite payloads are critical for scaling the performance of the new satellites. … We are confident that this will drive growth for SatixFy, and create significant value and transparency for our existing and new customers.”

Richard Davis, managing director of Antarctica Capital and now a member of SatixFy’s Board of Directors commented that going public gives SatixFy the “financial strength needed to close business with the industry’s largest players.”

SatixFy and Endurance first announced the deal to go public in March 2022 in August, the companies reduced the value of the combined company.