Swiss Nanosatellite Startup Astrocast Seeks Direct Stock Listing
- Firm is seeking up to $54 million in a private placement
- Airbus Ventures, European Space Agency are among backers
Astrocast’s nanosatellite
Source: AstrocastThis article is for subscribers only.
Astrocast, a Swiss firm developing tiny satellites that deliver internet access to all types of devices, is seeking as much as 50 million Swiss francs ($54 million) in a private placement ahead of a direct listing on the stock market.
The company, which is backed by venture capital firm Adit Ventures, Airbus SE’s venture arm and the European Space Agency, is planning a direct listing of 30% to 40% of its shares in the third quarter, executives said in an interview. Astrocast plans to list on one of Euronext NV’s exchanges for small and mid-sized companies, though it hasn’t decided which one, they said.