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Satellite IoT Company Astrocast Goes Public

25 August 2021

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Astrocast lists on Euronext Growth Oslo

LAUSANNE, Switzerland, August 25, 2021 – Astrocast SA, the leading Swiss IoT- focused nanosatellite company, floated its shares on the Euronext Growth market in Oslo. The listing marks the first chance for investors to acquire shares in an IoT satellite constellation in a public market.

“Astrocast is recognised as one of the pioneers, and one of the most advanced companies in the world providing low-cost global connectivity for the IoT. Lack of such connectivity has been a roadblock for a massive expansion of this market.”

said Fabien Jordan, CEO of Astrocast
Astrocast’s bell ceremony took place remotely and it was celebrated by CEO Fabien Jordan and the Astrocast team in a very Swiss way.

Astrocast solves the IoT blind spot

Current cellular networks cover roughly only 10% of the Earth’s surface, and low-power wide-area networks (LPWAN) cover only a fraction of this. More than 5 billion IoT devices are expected by 2025, and a rapidly growing part of these needs to be connected by satellite. Through its Nanosatellite IoT Network, Astrocast enables companies to track, measure, manage, communicate and control IoT assets from the world’s most remote regions. To meet the growing demand for such services, Astrocast is planning a substantial increase in capacity.

100 satellites by the end of 2024

Prior to the listing on Euronext Growth Oslo, Astrocast offered new shares to investors and raised CHF 40 million in capital.

“The fundraise and listing represent major steps for the company as we are now accelerating the deployment of our constellation. After a successful launch of 5 new satellites in late June this year, the company’s current network comprises 10 operating satellites in orbit. We plan to increase this to a total of 100 satellites by the end of 2024.”

said Fabien Jordan

A wide range of investors

Several leading investors well acquainted with NewSpace – a term frequently used for the globally emerging, private spaceflight industry – acquired new shares in Astrocast.

“We are pleased to see such broad interest from leading institutional investors who share our view on the market. We are grateful for their support, and for the support from visionary investors who helped us build the company to this point. A strong team of passionate Astrocast employees is looking forward to continuing building our global communication service, connecting IoT devices all around the globe.”

said Fabien Jordan

The cornerstone investors are a syndicate led by US-based Adit Ventures. Other leading investors in the placement included Palantir, the leading builder of operating systems for the modern enterprise, the Swiss-based private equity firm DAA Capital Partners (DAA) which specialises in early-growth technology companies, and the seed and early-stage venture capital fund Primo Space Fund which focuses on space tech opportunities.

Among the existing owners of Astrocast are Airbus Ventures, Verve and DAA, and several Swiss family offices. None of these offered shares for sale in connection with the fundraise. Bryan, Garnier & Co was appointed Sole Bookrunner and Euronext Growth Adviser in connection with the fundraise and listing. Advokatfirmaet Selmer AS and CPV Partners are acting as legal advisors to the company, while First House has been engaged as communication advisor. Norne Securities AS was the settlement agent.

About Astrocast

Astrocast SA is the most advanced global nanosatellite IoT network to tackle challenges in industries such as Agriculture & Livestock, Oil, Gas & Mining, Maritime, Environmental, Connected Vehicles, and IoT Devices. The Astrocast network enables companies to monitor, track, assess, and communicate with critical remote assets from anywhere in the world. In partnership with Airbus, CEA/LETI, the European Space Agency, and Thuraya, Astrocast developed Astronode S, a cutting-edge module featuring low profile L-band antenna, ultra-low power consumption, and a small form factor. Founded in 2014 by a renowned team of experts, Astrocast designs, builds, and tests all its products in-house, from the satellites to the terminals. The Astrocast network will consist of 100 Low Earth Orbit (LEO) nanosatellites. For more information visit www.astrocast.com

Contact details

For investors
Kjell Karlsen, Chief Financial Officer, Astrocast
investors@astrocast.com

For media
Fatima Vigil, Head of Marketing, Astrocast
media@astrocast.com

IMPORTANT NOTICE

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of Astrocast SA (the “Company”).

Matters discussed in this announcement may constitute forward-looking statements. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond their control.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

Neither the Manager nor any of their affiliates make any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein.

This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Manager nor any of its affiliates accept any liability arising from the use of this announcement.

The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

Upcoming Events

World Satellite Business Week 13-16 December, 2021 | Paris
The World Satellite Business Week is the annual rendez-vous the unique executive meeting place for the leaders of the global satellite communications and information business. Fabien Jordan, CEO Astrocast, will participate at the panel session “The rise of IoT”, on December 15, 2021.

Register here >

World Satellite Business Week
13-16 December, 2021
Paris

The World Satellite Business Week is the annual rendez-vous the unique executive meeting place for the leaders of the global satellite communications and information business. Fabien Jordan, CEO Astrocast, will participate at the panel session “The rise of IoT”, on December 15, 2021.