InfraOrbitThe capital behind space.
InfraOrbit register · 2015 to 2026

US space financing

37 space financings involving United States since 2015, and 122 investment and M&A deals, each with its terms and primary sources.

Randeep Bubbra | Lawyer | Making space financeable

37Financings on file
US$36.8bnFunded volume (US$ eq.)
122Investments and M&A
US$6.4bnLargest financing
2015: US$0m152016: US$1.5bn1622017: US$2.2bn1722018: US$4.4bn1842019: US$3.5bn1932020: US$435m2002021: US$0m212022: US$925m2212023: US$8.5bn2382024: US$9.2bn2492025: US$3.5bn2532026: US$2.7bn263
US space financing: funded volume by year. US$bn equivalent at approximate annual average rates; contingent and unfunded programme commitments are excluded.

Largest financing

Maxar take-private by Advent, 3 May 2023.

By type

TypeFinancingsFunded (US$)
Bond15US$18.7bn
Acquisition finance2US$7.8bn
Convertible14US$7.0bn
Bank facility4US$1.6bn
Customer prepayment1US$1.5bn
Export credit1US$189m

Banks and lenders named

J.P. Morgan (1), Export-Import Bank of the United States (1), UBS (1), RBC Capital Markets (1), Deutsche Bank (1), Barclays (1), Wells Fargo (1), Societe Generale (1).

Counts are financings on file where the bank or lender is named. All lenders.

Financings

DateFinancingTypeAmount
28 Sep 2026Voyager Technologies US$402m convertible senior notes due 2032ConvertibleUS$402.5m
15 Jul 2026AST SpaceMobile US$1.0bn 1.625% convertible notes due 2034ConvertibleUS$1bn
20 Feb 2026Redwire amended credit agreementBank facilityUS$120m
11 Feb 2026AST SpaceMobile US$1.0bn 2.25% convertible notes due 2036ConvertibleUS$1bn
21 Jan 2026Viasat US EXIM direct loan for ViaSat-3 F1 launch and insuranceExport creditUS$188.7m
13 Nov 2025Voyager Technologies US$435m 0.75% convertible senior notes due 2030ConvertibleUS$435m
24 Oct 2025AST SpaceMobile US$1,000m convertible senior notes due 2036ConvertibleUS$1bn
9 Sep 2025Planet Labs US$400m 0.50% convertible notes due 2030ConvertibleUS$400m
13 Aug 2025Intuitive Machines US$345m 2.5% convertible notes due 2030ConvertibleUS$345m
25 Jul 2025AST SpaceMobile US$500m 2.375% convertible notes due 2032ConvertibleUS$500m
22 Jul 2025BlackSky US$160m 8.25% convertible senior notes due 2033ConvertibleUS$160m
25 Jun 2025AST SpaceMobile US$225m 4.25% convertible notes due 2032 (additional)ConvertibleUS$225m
27 Jan 2025AST SpaceMobile US$400m 4.25% convertible senior notes due 2032ConvertibleUS$400m
Nov 2024EchoStar US$5.36bn 10.75% senior secured notes due 2029 and DBS financingBondUS$5.36bn
29 Oct 2024Globalstar funding from Apple for the new MSS constellationCustomer prepaymentUS$1.5bn
11 Sep 2024Viasat US$1,975m 9.000% senior notes due 2029BondUS$1.98bn
1 Feb 2024Rocket Lab US$355m 4.25% convertible notes due 2029ConvertibleUS$355m
21 Sep 2023Viasat US$733m 7.500% senior notes due 2031BondUS$733.4m
30 May 2023Viasat US$1.35bn acquisition financing for InmarsatAcquisition financeUS$1.35bn
3 May 2023Maxar take-private by AdventAcquisition financeUS$6.4bn
10 Jun 2022Maxar Technologies US$500m 7.75% senior notes due 2027BondUS$500m
14 Jan 2022Virgin Galactic US$425m 2.50% convertible senior notes due 2027ConvertibleUS$425m
9 Dec 2020ABL Space Systems debt raise of US$20mBank facilityUS$20m
7 Oct 2020CesiumAstro debt raise of US$15mBank facilityUS$15m
18 Jun 2020Viasat US$400m 6.500% senior notes due 2028BondUS$400m
18 Nov 2019Maxar Technologies US$1,000m 9.75% senior notes due 2023BondUS$1bn
4 Nov 2019Iridium US$1,450m credit facilityBank facilityUS$1.45bn
7 Jun 2019Intelsat US$400m 9.750% senior notes due 2025BondUS$400m
20 Mar 2019Viasat US$600m 5.625% senior notes due 2027BondUS$600m
3 Oct 2018Intelsat US$700m 8.500% senior notes due 2024BondUS$700m
6 Sep 2018Intelsat US$2,000m 8.500% senior notes due 2024BondUS$2bn
2 Aug 2018Intelsat US$1,000m 9.50% senior notes due 2023BondUS$1bn
14 Jun 2018Intelsat US$350m 4.50% convertible senior notes due 2025ConvertibleUS$350m
21 Mar 2018Iridium US$360m 10.250% senior notes due 2023BondUS$360m
7 Sep 2017Viasat US$700m 5.625% senior notes due 2025BondUS$700m
19 Jun 2017Intelsat US$1,500m 7.25% senior notes due 2025BondUS$1.5bn
27 Jul 2016Hughes Satellite Systems US$1,500m senior notes (2 tranches)BondUS$1.5bn

Investments and M&A

DateDealTypeValue
3 Aug 2026Intuitive Machines acquisition of Goonhilly Earth Station and COMSATM&ANot disclosed
7 Jul 2026Iridium acquisition of AireonM&ANot disclosed
4 Jun 2026Axiom Space round extension with MUFGVenture roundUS$175m
29 May 2026Momentus US$25m share offeringEquity raiseUS$25m
28 May 2026Firefly Aerospace follow-on offeringEquity raiseUS$192m
28 May 2026Sidus Space US$100m share offeringEquity raiseUS$100m
20 Apr 2026Sidus Space US$58m share offeringEquity raiseUS$58.5m
14 Apr 2026Amazon acquisition of GlobalstarM&A AnnouncedNot disclosed
10 Apr 2026Apex Technology equity raise of US$157mVenture roundUS$156.8m
8 Apr 2026Impulse Space equity raise of US$500mVenture roundUS$499.8m
24 Mar 2026Starfish Space equity raise of US$112mVenture roundUS$111.7m
9 Mar 2026CACI acquisition of ARKA GroupM&AUS$2.6bn
2 Mar 2026Sierra Space equity raise of US$550mVenture roundUS$550m
12 Feb 2026Axiom Space US$350m financing (2026)Venture roundUS$350m
6 Feb 2026Stoke Space equity raise of US$275mVenture roundUS$275m
2 Feb 2026SpaceX acquisition of xAIM&AUS$250bn
13 Jan 2026Intuitive Machines acquisition of Lanteris Space SystemsM&AUS$800m
23 Dec 2025Sidus Space US$25m share offeringEquity raiseUS$25m
18 Dec 2025HawkEye 360 equity raise of US$106mVenture roundUS$106m
5 Nov 2025Firefly Aerospace acquisition of SciTecM&AUS$855m
23 Sep 2025Stoke Space equity raise of US$410mVenture roundUS$410m
8 Sep 2025SpaceX purchase of EchoStar AWS-4 and H-block spectrumM&A AnnouncedUS$17bn
29 Aug 2025Apex Technology equity raise of US$152mVenture roundUS$151.9m
26 Aug 2025AT&T purchase of EchoStar spectrumM&A AnnouncedUS$23bn
12 Aug 2025Rocket Lab acquisition of GeostM&AUS$275m
8 Aug 2025Firefly Aerospace IPO on NasdaqIPOUS$998.6m
3 Jul 2025CesiumAstro equity raise of US$270mVenture roundUS$270.5m
13 Jun 2025Redwire acquisition of Edge AutonomyM&AUS$925m
10 Jun 2025Voyager Technologies IPO on NYSEIPOUS$440.2m
9 May 2025Impulse Space equity raise of US$294mVenture roundUS$294.5m
1 May 2025AeroVironment acquisition of BlueHaloM&AUS$4.1bn
16 Apr 2025Apex Technology equity raise of US$158mVenture roundUS$158.2m
9 Dec 2024Stoke Space equity raise of US$184mVenture roundUS$183.8m
5 Dec 2024Intuitive Machines US$110m share offeringEquity raiseUS$110m
30 Oct 2024Lockheed Martin acquisition of Terran OrbitalM&AUS$450m
29 Oct 2024Apple investment in GlobalstarStrategic investment AnnouncedUS$400m
25 Sep 2024BlackSky US$40m share offeringEquity raiseUS$40m
12 Sep 2024Starfish Space equity raise of US$30mVenture roundUS$29.5m
3 Sep 2024KBR acquisition of LinQuestM&ANot disclosed
11 Jun 2024Lynk Global equity raise of US$85mVenture roundUS$85.2m
24 May 2024Apex Technology equity raise of US$72mVenture roundUS$71.9m
16 Feb 2024BAE Systems acquisition of Ball AerospaceM&AUS$5.5bn
29 Jan 2024CesiumAstro equity raise of US$30mVenture roundUS$30m
2 Jan 2024EchoStar and DISH Network mergerM&ANot disclosed
14 Dec 2023ABL Space Systems equity raise of US$41mVenture roundUS$40.6m
25 Oct 2023Albedo Space equity raise of US$29mVenture roundUS$29.4m
20 Sep 2023Terran Orbital US$32m share offeringEquity raiseUS$32.5m
15 Sep 2023Stoke Space equity raise of US$146mVenture roundUS$146m
21 Aug 2023Axiom Space Series CVenture roundUS$350m
28 Jul 2023L3Harris acquisition of Aerojet RocketdyneM&AUS$4.7bn
21 Jul 2023Impulse Space equity raise of US$39mVenture roundUS$38.7m
7 Jul 2023HawkEye 360 equity raise of US$58mVenture roundUS$58m
16 Jun 2023Apex Technology equity raise of US$16mVenture roundUS$15.6m
3 May 2023Advent International take-private of Maxar TechnologiesM&AUS$6.4bn
2 Mar 2023Starfish Space equity raise of US$13mVenture roundUS$13.4m
13 Feb 2023Intuitive Machines SPAC merger with Inflection PointSPAC mergerUS$34m
2 Dec 2022AST SpaceMobile US$75m share offeringEquity raiseUS$75m
29 Jul 2022Slingshot Aerospace equity raise of US$34mVenture roundUS$33.7m
20 Jul 2022SpaceX equity raise of US$250mVenture roundUS$250m
27 May 2022SpaceX equity raise of US$1,725mVenture roundUS$1.73bn
24 May 2022Muon Space equity raise of US$25mVenture roundUS$25m
25 Mar 2022Terran Orbital SPAC merger with Tailwind Two: PIPESPAC mergerUS$51m
24 Mar 2022Impulse Space equity raise of US$20mVenture roundUS$20m
3 Feb 2022CesiumAstro equity raise of US$60mVenture roundUS$60m
28 Jan 2022Sierra Space equity raise of US$31mVenture roundUS$30.6m
18 Jan 2022Rocket Lab acquisition of SolAeroM&AUS$80m
29 Dec 2021Virgin Orbit SPAC merger with NextGen IISPAC mergerUS$228m
14 Dec 2021SpaceX equity raise of US$337mVenture roundUS$337.4m
7 Dec 2021Planet SPAC merger with dMY Technology Group IVSPAC mergerUS$590m
1 Dec 2021Sierra Space equity raise of US$1,412mVenture roundUS$1.41bn
30 Nov 2021Stoke Space equity raise of US$65mVenture roundUS$65m
5 Nov 2021HawkEye 360 equity raise of US$145mVenture roundUS$145m
1 Nov 2021SpaceX equity raise of US$345mVenture roundUS$344.8m
22 Oct 2021ABL Space Systems equity raise of US$202mVenture roundUS$202m
14 Oct 2021Loft Orbital equity raise of US$113mVenture roundUS$113.2m
9 Sep 2021BlackSky SPAC merger with Osprey TechnologySPAC mergerUS$283m
3 Sep 2021Varda Space Industries equity raise of US$42mVenture roundUS$42.2m
2 Sep 2021Redwire SPAC merger with Genesis Park: PIPESPAC mergerUS$85m
1 Sep 2021GI Partners acquisition of ORBCOMMM&AUS$1.1bn
25 Aug 2021Rocket Lab SPAC merger with Vector Acquisition: PIPESPAC mergerUS$467m
16 Aug 2021Spire Global SPAC merger with NavSightSPAC mergerUS$265m
16 Aug 2021Turion Space equity raise of US$11mVenture roundUS$11.1m
12 Aug 2021Momentus SPAC merger with Stable RoadSPAC mergerUS$247.3m
30 Jun 2021Astra SPAC merger with HolicitySPAC mergerUS$449.8m
27 May 2021Relativity Space equity raise of US$650mVenture roundUS$650m
30 Apr 2021Viasat acquisition of RigNetM&AUS$222m
9 Apr 2021HawkEye 360 equity raise of US$40mVenture roundUS$40m
6 Apr 2021AST SpaceMobile SPAC merger with New ProvidenceSPAC mergerUS$457m
24 Mar 2021ABL Space Systems equity raise of US$170mVenture roundUS$170.1m
19 Mar 2021Astranis equity raise of US$281mVenture roundUS$280.8m
16 Feb 2021SpaceX equity raise of US$1,164mVenture roundUS$1.16bn
1 Dec 2020Intelsat acquisition of Gogo Commercial AviationM&AUS$400m
20 Nov 2020Relativity Space equity raise of US$500mVenture roundUS$500m
19 Nov 2020Parsons acquisition of Braxton Science & TechnologyM&AUS$300m
23 Oct 2020Umbra Lab equity raise of US$32mVenture roundUS$32.4m
5 Oct 2020KBR acquisition of CentauriM&AUS$827m
13 Aug 2020Astra Space US$25m share offeringEquity raiseUS$25m
4 Aug 2020SpaceX equity raise of US$1,901mVenture roundUS$1.9bn
1 Jul 2020Maxar acquisition of VriconM&AUS$140m
6 Mar 2020ABL Space Systems equity raise of US$48mVenture roundUS$47.5m
28 Feb 2020SpaceX equity raise of US$346mVenture roundUS$346.2m
22 Jan 2020Astranis equity raise of US$31mVenture roundUS$30.8m
20 Nov 2019Capella Space equity raise of US$29mVenture roundUS$29.4m
26 Sep 2019Relativity Space equity raise of US$133mVenture roundUS$132.9m
5 Aug 2019HawkEye 360 equity raise of US$35mVenture roundUS$35m
19 Jul 2019Astranis equity raise of US$42mVenture roundUS$41.7m
24 Jun 2019SpaceX equity raise of US$214mVenture roundUS$214m
8 Apr 2019SpaceX equity raise of US$536mVenture roundUS$535.7m
5 Apr 2019Capella Space equity raise of US$14mVenture roundUS$13.7m
21 Dec 2018SpaceX equity raise of US$486mVenture roundUS$486.2m
23 Aug 2018Capella Space equity raise of US$19mVenture roundUS$18.8m
6 Jun 2018Northrop Grumman acquisition of Orbital ATKM&AUS$9.2bn
5 Apr 2018SpaceX equity raise of US$214mVenture roundUS$214m
14 Mar 2018Relativity Space equity raise of US$29mVenture roundUS$28.6m
5 Oct 2017MDA acquisition of DigitalGlobeM&AUS$3.6bn
29 Aug 2017Astranis equity raise of US$14mVenture roundUS$13.5m
26 Jul 2017SpaceX equity raise of US$450mVenture roundUS$450m
3 May 2017Capella Space equity raise of US$15mVenture roundUS$14.9m
25 Jun 2015Planet Labs (pre-listing) equity raise of US$106mVenture roundUS$106m
2 Apr 2015Planet Labs (pre-listing) equity raise of US$93mVenture roundUS$92.8m
20 Jan 2015SpaceX equity raise of US$1,000mVenture roundUS$1bn
13 Jan 2015Planet Labs (pre-listing) equity raise of US$48mVenture roundUS$48.1m

Totals are US$ equivalents of funded deals at approximate annual average rates; programme-level and conditional commitments are listed but left out. Records come from public, primary sources. How the register is built.

Randeep Bubbra
InfraOrbit Weekly

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