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    Telesat debuts on Nasdaq as the latest pure playstock TSAT for space

    Telesat CEO Daniel Goldberg will take a photo on March 24, 2021 at the office of Telesat, a Canadian satellite communications company in Ottawa, Ontario, Canada.

    Blair Gable | Reuters

    Canadian satellite communications company Telesat Published on Nasdaq on Friday, another space of pure play stock has hit the market.

    Telesat CEO Dan Goldberg told CNBC, “We are an established business, an established business, and an existing customer who has always been positive about where this market is heading. We are generating a fair amount of cash flow with us. “

    Telesat’s share price was $ 41.52, a 16% surge in the initial transaction, but has since abandoned most of the transaction’s profits with little change.

    The listing followed the exchange with Telesat’s shareholders, effectively replacing the previously publicly available Loral Space & Communications. Prior to the transaction, Telesat’s shareholders were Loral and the Canadian Pension Fund PSP, which owned 64% and 36% of Telesat’s shares, respectively.

    “At this point, we haven’t issued any new equity. This was just to streamline the ownership structure,” Goldberg said. “It’s more beautiful”

    Rendering of Telesat’s low earth orbit broadband constellation


    Telesat’s core growth project is tThe low earth orbit broadband satellite network it is building, called Lightspeed..Not like SpaceX Starlink Constellation Consumer Focus, Telesat plans to use 298 Lightspeed satellites to provide high-speed fiber-like Internet to inter-company or corporate customers around the world.

    “Lightspeed is capital-intensive,” Goldberg emphasized, and the company expects it to cost $ 5 billion.

    Telesat has raised more than $ 3 billion in Lightspeed, including a $ 1.1 billion investment from the Government of Canada. According to Goldberg, the company has raised the remaining necessary funding from export credit agencies, and Telesat is “in the process of ending these discussions.”

    The company launched an experimental low-Earth orbit satellite in 2018, saying Goldberg was used for customer demonstrations and technical verification.

    Telesat has signed a contract with French and Italian space hardware maker Thales Alenia Space to build the satellite. The company has not yet set a specific target date for the launch of the first Lightspeed. “Thales had some supply chain problems that caused delays,” Goldberg said.

    Telesat debuts on Nasdaq as the latest pure playstock TSAT for space

    Source link Telesat debuts on Nasdaq as the latest pure playstock TSAT for space

    The post Telesat debuts on Nasdaq as the latest pure playstock TSAT for space appeared first on Eminetra.

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