{"id":56038,"date":"2022-01-27T19:29:18","date_gmt":"2022-01-27T11:29:18","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/d-orbit-to-go-public-in-1-3b-spac-deal\/"},"modified":"2022-01-27T19:29:18","modified_gmt":"2022-01-27T11:29:18","slug":"d-orbit-to-go-public-in-1-3b-spac-deal","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/d-orbit-to-go-public-in-1-3b-spac-deal\/","title":{"rendered":"D-Orbit to Go Public In $1.3B SPAC Deal"},"content":{"rendered":"<\/p>\n<p><strong>D-Orbit<\/strong> is the latest space company to announce plans to go public via a special purpose acquisition company (SPAC).&nbsp;<\/p>\n<p>D-Orbit is an in-space transportation company headquartered in Italy. Its ION satellite carrier takes satellites after launch to their in-orbit position. ION has been used on four missions over the last 15 months, most recently on the SpaceX Transporter-3 mission supporting customers Lockheed Martin, SatRevolution, and Czech Aerospace Research Centre.&nbsp;<\/p>\n<p>On Thursday, D-Orbit announced plans to combine with SPAC \u200b\u200bBreeze Holdings Acquisition Corp. to form a combined company worth $1.28 billion. In addition, Ch\u00e9 Bolden, (son of former NASA Administrator Charles Bolden) and Renee Wynn, former NASA CIO, are expected to join the board through a partnership between Breeze Holdings and the Charles F. Bolden Group.<\/p>\n<p>\u201cWith our proven ION technology, we are well positioned to capitalize on this near-term market opportunity,\u201d said Luca Rossettini, D-Orbit founder and CEO. \u201cAs the new space economy continues to evolve, we will capture opportunities in the mid-term with in-orbit servicing solutions and the long-term by enabling new transportation and logistics infrastructure. Through this transaction, we will have access to resources to scale our business and accelerate growth.\u201d&nbsp;<\/p>\n<p>D-Orbit has plans to expand services from its ION spacecraft, with hosted payloads and in-orbit technology validations. The company also plans to pursue in-orbit servicing and active debris removal, and in-orbit recycling and manufacturing.&nbsp;<\/p>\n<p>According to its investor presentation, D-Orbit reported $3 million in revenue in 2021, and expects to make $20 million this year, and $1.4 billion in 2025. Near-term revenue growth is driven by a $21.5 million backlog. The company expects future revenue growth from satellite servicing and in-orbit services commencing in 2023.&nbsp;<\/p>\n<p>The transaction is set to close in the second or third quarter of this year. If it closes, D-Orbit will trade on the Nasdaq under ticker symbol \u201cDOBT.\u201d D-Orbit expects to take home $186 million from the transaction, including $5.5 million in PIPE funding.&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>D-Orbit is the latest space company to announce plans to go public via a special purpose acquisition company (SPAC).&nbsp; D-Orbit is an in-space transportation company headquartered in Italy. Its ION satellite carrier takes satellites after launch to their in-orbit position. ION has been used on four missions over the last 15 months, most recently on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":54914,"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-56038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/56038"}],"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=56038"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/56038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/54914"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=56038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=56038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=56038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}