{"id":18270,"date":"2018-11-15T23:25:29","date_gmt":"2018-11-15T15:25:29","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/spaceflight-industries-goes-through-financial-restructuring-as-key-launch-nears\/"},"modified":"2018-11-15T23:25:29","modified_gmt":"2018-11-15T15:25:29","slug":"spaceflight-industries-goes-through-financial-restructuring-as-key-launch-nears","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/spaceflight-industries-goes-through-financial-restructuring-as-key-launch-nears\/","title":{"rendered":"Spaceflight Industries goes through financial restructuring as key launch nears"},"content":{"rendered":"<figure id=\"attachment_462639\" aria-describedby=\"caption-attachment-462639\" style=\"width: 630px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full-width wp-image-462639\" src=\"https:\/\/cdn.geekwire.com\/wp-content\/uploads\/2018\/11\/181115-spaceflight1-630x420.jpg\" alt=\"Spaceflight team\" width=\"630\" height=\"420\" srcset=\"https:\/\/cdn.geekwire.com\/wp-content\/uploads\/2018\/11\/181115-spaceflight1-630x420.jpg 630w, https:\/\/cdn.geekwire.com\/wp-content\/uploads\/2018\/11\/181115-spaceflight1-768x512.jpg 768w, https:\/\/cdn.geekwire.com\/wp-content\/uploads\/2018\/11\/181115-spaceflight1.jpg 1000w\" sizes=\"(max-width: 630px) 100vw, 630px\"><figcaption data-nosnippet=\"\" id=\"caption-attachment-462639\" class=\"wp-caption-text\">Spaceflight\u2019s team gathers in front of SpaceX\u2019s facilities at Vandenberg Air Force Base in California during preparations for a dedicated-rideshare launch. (SpaceflightInc via Twitter)<\/figcaption><\/figure>\n<p>Seattle-based Spaceflight Industries laid out the status of a debt restructuring plan this week in advance of its most ambitious satellite launch operation to date.<\/p>\n<p>Documents filed with the Securities and Exchange Commission on Tuesday describe an offering of $29.9 million in debt instruments and options for other securities, with five investors participating to date. The filing said $22 million of the offering has been sold, with $7.9 million remaining.<\/p>\n<p>Spaceflight Industries spokeswoman Jodi Sorensen told GeekWire in an email that the filing was triggered when the company finished up a restructuring deal.<\/p>\n<p>\u201cPart of that funding ($15M) went through restructuring, making it more available to us, while the current investors did invest another $7M,\u201d she explained. \u201cSo some is from restructuring, some is net new investment.\u201d<\/p>\n<p>Further details about the restructuring deal were not immediately available, but we\u2019ll update this item with anything more we hear.<\/p>\n<p>Spaceflight Industries\u2019 previous investors include&nbsp;Vulcan Capital, the&nbsp;late billionaire Paul Allen\u2019s venture capital fund, as well as a French-Italian joint venture known as&nbsp;The Space Alliance, Japan\u2019s Mitsui &amp; Co. Ltd., Peter Thiel\u2019s Mithril Capital Management, RRE Venture Capital and Razor\u2019s Edge Ventures.<\/p>\n<p><iframe title=\"Assembling the Integrated Payload Stack at Spaceflight Industries\" src=\"https:\/\/www.youtube.com\/embed\/lp-5iJONtzs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen=\"\" data-ratio=\"0.5625\" data-width=\"800\" data-height=\"450\" style=\"display: block; margin: 0px; width: 800px; height: 450px;\"><\/iframe><\/p>\n<p>Spaceflight Industries has two service subsidiaries: Spaceflight, which deals with satellite launch logistics; and BlackSky, which offers geospatial data services on its Spectra software platform and is gearing up to have its own Earth-observing satellite constellation put in orbit.<\/p>\n<p>The company is also involved in a joint venture with Thales Alenia Space to manufacture satellites for BlackSky at a facility in Tukwila, Wash. The joint venture, known as LeoStella, has been tasked with building 20 satellites for the constellation over the next year or two.<\/p>\n<p>After years of preparation, Spaceflight is getting ready for Monday\u2019s scheduled launch of 64 satellites from California\u2019s Vandenberg Air Force Base on a SpaceX Falcon 9 rocket. The Seattle company has been in charge of signing up customers and managing spacecraft integration on a custom-built, multi-tiered deployment structure.<\/p>\n<p>Among the payloads will be the first BlackSky Global satellite to go into orbit.<\/p>\n<p>Spaceflight says the mission to sun-synchronous orbit, known as SSO-A or the SmallSat Express, will be the largest single rideshare mission launched using a U.S.-based rocket. For what it\u2019s worth, India\u2019s Polar Satellite Launch Vehicle, or PSLV, holds the record for most satellites launched on a single rocket, thanks to a 104-satellite launch in February 2017 in which Spaceflight played a role.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spaceflight\u2019s team gathers in front of SpaceX\u2019s facilities at Vandenberg Air Force Base in California during preparations for a dedicated-rideshare launch. (SpaceflightInc via Twitter) Seattle-based Spaceflight Industries laid out the status of a debt restructuring plan this week in advance of its most ambitious satellite launch operation to date. Documents filed with the Securities and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-18270","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/18270"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=18270"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/18270\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=18270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=18270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=18270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}