Business Wire

IoT Focused Satellite Company Astrocast Contemplating a Listing on Euronext Growth

Share

Astrocast is one of the leading emerging satellite operators in Europe. The company’s global Satellite IoT network allows customers to expand their Internet of Things (IoT) strategy to remote regions of the world.

The company, which benefits from the financial backing of leading corporate and venture capital funds including US based Adit Ventures, Airbus Ventures, Swiss family offices as well as the European Space Agency, has appointed European investment bank Bryan, Garnier & Co as global coordinator for the transaction.

The company is evaluating with its advisors a potential direct listing of 30 percent to 40 percent of its shares, pursuant to a private placement of newly issued shares extended to qualified international institutional investors, as well as strategic corporate investors, in what would be the first listing of an IoT dedicated satellite constellation. The listing could occur as soon as Q3 of this year.

“Astrocast is recognised as one of the pioneers, and one of the most advanced companies in the world tackling the issue of low-cost global connectivity for the IoT, which is the roadblock for a massive expansion of the market. A listing on a European stock market would represent a major step for the company as we are now accelerating the deployment of our constellation,” said Astrocast CFO Kjell Karlsen.

Pioneering the satellite based IoT connectivity market

Astrocast has developed a complete end-to-end communication solution for the IoT market, including satellites, communications platform, and modules (receivers). The satellites operate in the L-band spectrum, they can provide two-way communication and the terminals are designed with a favourable form factor as well as utilizing smaller antennas, opening for a whole new set of use cases such as environmental, maritime, logistics and agricultural applications.

Astrocast’s global service currently consists of seven operational satellites with additional five satellites to be launched by SpaceX by end of June 2021. Proceeds from the private placement will help funding the expansion of this network to a total of 100 satellites in orbit by end 2024.

After a successful pilot phase last year, Astrocast launched its commercial operations in May of this year. Two months later, the company is rolling out its first 20 customers, spread over three continents, and filling up its sales order book at rapid pace.

Nomination of non-executive Directors

As part of its plans to grow and invest in additional satellite communication capacity and also become a publicly traded company, two new board members have been nominated for election.

Jon Cholak is Co-Founder and Managing Director of Adit Genesis, Adit Ventures’ early-stage investment vehicle. Adit Genesis’ goal is to find world-class early-stage companies that will shape the next generation of technology innovation and development. Genesis invests in Seed, Series A and Series B stage companies across a variety of sectors. Its track record includes early-stage investments in global brands such as Klarna, Airbnb, Spotify, and SpaceX.

Jan Eyvin Wang is a former CEO of Wilh. Wilhelmsen ASA, one of Norway’s largest shipping companies. He is currently non-executive director in several of the companies in the New Energy Division in the Wilhelmsen group as well as CrayoNano, a next generation semiconductor company.

About Astrocast

Astrocast SA is the most advanced global Nanosatellite IoT Network to tackle challenges in industries such as Agriculture & Livestock, Oil, Gas & Mining, Maritime, Environmental, Connected Vehicles, and IoT Devices. The Astrocast Network enables companies to monitor, track, assess, and communicate with critical remote assets from anywhere in the world. In partnership with Airbus, CEA/LETI, the European Space Agency, and Thuraya, Astrocast developed Astronode S, a cutting-edge terminal featuring low profile L-band antenna, ultra-low power consumption, and a small form factor. Founded in 2014 by a renowned team of experts, Astrocast designs, builds, and tests all of its products in-house, from the satellites to the terminals. The Astrocast Network will consist of 100 Low Earth Orbit (LEO) nanosatellites. http://www.astrocast.com

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Fatima Vigil
Astrocast
media@astrocast.com
+41 786612884

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

NIKE, Inc. Board of Directors Announces Long-Time Nike Veteran Elliott Hill to Return as President and Chief Executive Officer John Donahoe to Retire from Nike19.9.2024 23:15:00 EEST | Press release

The Board of Directors of NIKE, Inc. (NYSE:NKE) announced today that Elliott Hill will become President and Chief Executive Officer of NIKE, Inc., effective October 14, 2024. Hill will also become a Director of the NIKE, Inc. Board of Directors and a member of the Executive Committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240919388699/en/ Incoming NIKE, Inc. President & CEO Elliott Hill (Photo: Business Wire) “I am excited to welcome Elliott back to NIKE. Given our needs for the future, the past performance of the business, and after conducting a thoughtful succession process, the Board concluded it was clear Elliott’s global expertise, leadership style, and deep understanding of our industry and partners, paired with his passion for sport, our brands, products, consumers, athletes, and employees, make him the right person to lead Nike’s next stage of growth,” said Mark Parker, Executive Chairman of NIKE, Inc. “Pers

Mary Kay Expands Into Kyrgyzstan, Further Elevating Beauty and Empowerment Around the World19.9.2024 20:03:00 EEST | Press release

Mary Kay Inc., a global leader in skin care and cosmetics, is proud to announce its expansion into Kyrgyzstan, marking a significant milestone in its ongoing international growth strategy. This exciting development underscores Mary Kay’s commitment to empowering women and providing innovative, high-quality skincare and beauty products across the globe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240919159057/en/ Mary Kay’s expansion into Kyrgyzstan marks another step forward in the company’s mission to enrich women’s lives around the world, offering top-tier beauty products and unparalleled business opportunities. (Photo: Mary Kay Inc.) The beauty and personal care market is experiencing robust growth internationally, with sales volume in these categories almost doubling over the past several years. The beauty market is expected to reach approximately $580 billion by 2027, growing by a projected 6 percent per year1 while

Xsolla Partners With AbleGamers for Charity Campaign at TwitchCon 202419.9.2024 20:00:00 EEST | Press release

Xsolla, a global video game commerce company, is excited to announce its collaboration with AbleGamers for an impactful charity campaign at TwitchCon 2024. This partnership aims to further AbleGamers' mission of improving accessibility in gaming for individuals with disabilities through an interactive and meaningful activation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240919722398/en/ (Graphic: Xsolla) Attendees who visit the Xsolla booth (Booth 1515-SW) at TwitchCon will have the exclusive opportunity to claim one of two specially designed charity pins. By sharing a photo of their pin on their social channels on Instagram, Facebook, or Twitter using the hashtags #LightstreamAble and #XsollaAble, participants will help raise funds for AbleGamers. For every qualifying social post, Xsolla and its partners will donate $5 to AbleGamers, up to $10,000. To amplify awareness, include hashtags: #TwitchCon #BongoCat #Lightstrea

Sandvine Announces New Ownership and Capital Infusion19.9.2024 19:38:00 EEST | Press release

Sandvine (the “Company”), a market-leading provider of Over-the-Top (OTT) Application Classification and Quality of Experience (QoE) solutions, today announced that it has been acquired by a group of leading US investment firms that previously were, and continue to be, lenders to the Company. In connection with this change of control transaction, the lenders agreed to reduce the Company’s total outstanding debt significantly. Following the change of control transaction, on September 13, 2024, these investors also entered into a binding agreement to provide new capital to Sandvine. The financing is expected to close in September 2024 and will strengthen the Company’s balance sheet. These enhancements to Sandvine’s financial position accompany its recently announced reorientation of its business model to focus on serving customers in large democratic markets. Together, these developments enable the Company to continue serving as the technology partner of choice for scaled, sophisticated

Neuraptive Therapeutics Announces Presentation of Phase 2 Topline Interim Results for NTX-001 at the 2024 American Society for Surgery of the Hand (ASSH) Annual Meeting19.9.2024 19:31:00 EEST | Press release

Neuraptive Therapeutics Inc., a leading biopharmaceutical company focused on novel treatments for peripheral nerve injuries, today announced that interim topline results from its ongoing Phase 2 NEUROFUSE Study will be presented at the 2024 American Society for Surgery of the Hand (ASSH) Annual Meeting, held September 19-21 in Minneapolis, MN. The presentation, titled Safety and Efficacy of NTX-001 in the Treatment of Acute Single Transected Peripheral Nerve Injuries: A Phase 2 Randomized Controlled Trial, was awarded a Top 10 Best Paper designation and will be presented by Dr. David Brogan of Washington University during the scientific paper session on Thursday, September 19. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240919597699/en/ David M. Brogan, MD, MSc, Assistant Professor, Orthopaedic Surgery, Division of Hand and Microsurgery, Washington University in St. Louis (Photo: Business Wire) The presentation will highl

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye