Silverpeak is delighted to announce that it has advised Italian new space leader, D-Orbit, on a €51.5m convertible fundraising, ahead of its recently announced $1.2bn SPAC merger, which at completion will make it a unicorn.
D-Orbit addresses the logistics needs of the space industry and is the first-mover to provide in-space satellite transportation services for commercial and institutional clients via its ION satellite carrier. This orbital transfer vehicle transports satellites in-orbit and releases them individually into distinct orbital slots, significantly reducing both the time from launch to operations and also the launch costs of an entire satellite constellation. The company has already launched four ION missions which have successfully and precisely deployed over 70 customer satellites.
Silverpeak worked closely with the company to raise a financing round, including strategic and financial investors, which was structured as a convertible instrument in light of the pending SPAC transaction.
Luca Rossettini, D-Orbit CEO said “Silverpeak’s in-depth knowledge of the space market together with its outstanding execution capabilities and connections with investors across the sector proved invaluable. The team helped us build our investment case, financial models and presentations which led to interest from global investors, ultimately paving the way to the NASDAQ listing that we have just announced.”
David Ford, partner at Silverpeak added “Luca and the team at D-Orbit have done a first-class job of delivering missions and customer value in this sector, in a capital-efficient way. We are proud to have worked with the global leader in satellite last-mile delivery, and believe the space sector will continue to offer fantastic investment opportunities.”