Filtronic Announces Strategic Partnership, Commercial Agreement With SpaceX In LEO Space Market

Source: FinanzNachrichten.de

LONDON (dpa-AFX) - Filtronic plc (FTC.L), on Wednesday, announced a strategic partnership and commercial agreement with Space Exploration Technologies Corp., which designs, manufactures, launches, and operates the world's most advanced rockets and spacecraft.

The Strategic Partnership includes the ongoing supply of E-band Solid State Power Amplifiers or SSPA in addition to the development and supply of similar products at other frequency bands within SpaceX's Starlink platform.

A Strategic Partnership contract has been established, which includes an initial irrevocable purchase order of $19.7 million for the supply of E-band SSPA modules. These modules are scheduled for delivery in FY2025. Additionally, further order flow is anticipated to continue thereafter to support the ongoing deployment of SpaceX's Starlink constellation. This constellation provides high-speed, low-latency internet services to users worldwide.

As part of the Strategic Partnership, the company has issued a total of 21,712,109 warrants to SpaceX across two tranches, to enable SpaceX to subscribe for up to a maximum of 10% of the company's existing share capital, with such warrants expected to vest, on a variable basis, with full vesting of the warrants once approximately $60 million of orders have been placed by SpaceX.

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFXGroßer Insider-Report 2024 von Dr. Dennis RiedlWenn Insider handeln, sollten Sie aufmerksam werden. In diesem kostenlosen Report erfahren Sie, welche Aktien Sie im Moment im Blick behalten und von welchen Sie lieber die Finger lassen sollten.Hier klicken