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Newsletter #7: Satellogic's SPAC vote on January 24th

New Space Activity

New Space Listings

No new space companies have listed during the last two weeks. There was, however, some better news this week for the SPAC transaction that Satellogic has been working on with CF Acquisition Corporation V. The parties had delayed the final merger vote on the transaction for a third time on December 30th, and now plan to vote on the merger on January 24th. Former Secretary of the Treasury Steven Mnuchin announced this week that he will invest $150M in Satellogic as part of the SPAC transaction, which should help to close the deal. The investment is coming through Liberty Strategic Capital, Mnuchin's Washington DC based private equity firm.


Satellogic Satellites

Industry News

Rocket Lab completed the acquisition of SolAero Holdings that was announced in December 2021. Rocket Lab acquired the supplier of space solar power products and precision aerospace structures for $80 million in cash.

Earnings Reports

No companies in our New Space Index have reported results in the past two weeks.


 

Share Price Movements


The top performing new space companies in our index, from a share price perspective, in the last two weeks are highlighted below, followed by the top five legacy space companies that we are tracking.


New Space Companies - Top Five Share Price Performers


Legacy Companies - Top Five Share Price Performers


 

Revenue Multiples

As many of the newly listed new space companies currently do not report meaningful revenue multiples (either forward or backward looking) we caveat that the revenue multiple numbers below should be considered carefully. As revenue multiple data becomes more meaningful for the new space ecosystem it will allow for more in-depth analysis and comparison with the legacy space ecosystem.


New Space Companies - TTM Revenue Multiples


Legacy Space Companies - TTM Revenue Multiples


New Space Companies - Forward (FY2022) Revenue Multiples


Legacy Space Companies - Forward (FY2022) Revenue Multiples

All market data from end of trading day Tuesday, 1/18/2022

 

Promus Ventures invests in early-stage deep tech startups solving complex problems to advance everyday lives across the world. Some of Promus Ventures’ other leading portfolio investments include Rocket Lab (Nasdaq: RKLB), Whoop, Spire (NYSE: SPIR), Mapbox, ICEYE, Bellabeat, Swift Navigation, AngelList, Behavox, Gauss Surgical, Figure Eight, Isotropic Systems, Halter, Cobalt, Safehub, and numerous others.


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