Space company D-Orbit to go public via SPAC deal

Thursday, 27. January 2022 17:38

Italian space transportation and services company D-Orbit announced on Thursday it plans to list on the Nasdaq exchange through a merger with special-purpose acquisition company (SPAC) Breeze Holdings which values the company at $1.4 billion. The company will trade under the ticker symbol DOBT.

"We have made tremendous progress developing and proving our unique ION technology, as well as building a dedicated customer base to which we have provided last-mile satellite delivery and advanced infrastructure services for more than eight years," D-Orbit CEO Luca Rossettini stated. "The transaction with Breeze Holdings comes at an important time for D-Orbit as the new space economy is poised for rapid growth," he added.

The merger is expected to close in the second or third quarter of 2022.

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Author:
Baha Breaking the News (BBN) / NP