Italian space transportation and services company D-Orbit announced plans Thursday to go public via a SPAC, in a deal that values the venture at $1.4 billion.
The deal is expected to add as much as $185 million in cash to D-Orbit’s balance sheet – raising about $88 million through debt, a $5.5 million PIPE (private investment in public equity) and nearly $117 million from the SPAC, which is dependent on shareholder redemptions.
D-Orbit has built a mission backlog of $21.5 million, with another $167 million in contracts under negotiation.
Read more: CNBC
