CesiumAstro secures $100 million debt facility through EXIM and J.P. Morgan
The facility accompanies $630 million in Series D equity, bringing the financing package to $730 million.
CesiumAstro has secured a $100 million debt facility through the Export-Import Bank of the United States (EXIM) and J.P. Morgan. Disclosed on November 5, it forms the debt component of a $730 million financing package that also includes $630 million in Series D equity.
The company will use the new capital to advance spacecraft technology, expand manufacturing and develop Synchronicity, a planned 737-satellite constellation for commercial, sovereign and defense missions. The network follows Element-1, CesiumAstro’s first satellite, which began on-orbit operations in October.
Use of funds
Develop and deploy the Synchronicity satellite constellation
Expand spacecraft manufacturing and international operations