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SatixFy forecasted revenues to grow from $22,000,000 in 2021 to $374,000,000 in 2026.
SatixFy expects to be essentially break-even in 2022 and to generate $23,000,000 in EBITDA in 2023.
David Ripstein will assume his new role at Israel-based SatixFy on 2022-06-27.
SatixFy named David Ripstein as CEO on 2022-06-23 to lead the company’s planned transformation into a public company.
SatixFy plans to trade shares on Nasdaq by merging with Endurance Acquisition Corp, a special purpose acquisition company, in the second half of 2022.
The merger with Endurance Acquisition Corp could potentially raise up to $230,000,000 for SatixFy’s expansion plans.
The merger deal values the combined SatixFy and Endurance Acquisition Corp company at $813,000,000.
SatixFy’s merger with Endurance is backed by New York-based private equity firm Antarctica Capital and values the combined group at about $813,000,000.
Yoav Leibovitch was named interim CEO of SatixFy and will continue his duties as chief financial officer while filling Gat’s leadership responsibilities until a successor takes the position on 2022-06-26.
SatixFy plans to trade shares on Nasdaq later 2022 by merging with Endurance Acquisition Corp, a special purpose acquisition company, in a deal announced 2022-03-08 that could potentially raise up to $230,000,000 for its growth plans.
On 2022-03-08 SatixFy entered into a definitive business combination agreement with Endurance Acquisition Corp. (NASDAQ: EDNC).
SatixFy projects a total addressable market opportunity of $20,000,000,000 in 2029 across ground terminals, payloads for Low Earth Orbit broadband satellites, and commercial and business aircraft segments.
SatixFy projects a $20,000,000,000 market opportunity in 2029 across segments including ground terminals, payloads for Low Earth Orbit broadband satellites, and commercial and business aircraft.
SatixFy has high visibility to at least $40,000,000 in 2022 revenue from contracts with existing customers.
SatixFy has high visibility to at least $40,000,000 in 2022 revenue from contracts with existing customers.
Yoel Gat is Co-Founder and CEO of SatixFy and has 35 years of experience creating value in the satellite sector, including founding Gilat Satellite Network and RaySat, Inc.
SatixFy intends to use the proceeds from the merger transaction to fund rapid business expansion.
SatixFy Communications Ltd. develops next-generation satellite communication systems based on in-house developed chipsets.
The combined SatixFy–Endurance entity aims to receive approximately $29,000,000 through a private investment in public equity (PIPE) funding round from Antarctica Capital and China-based asset manager Sensegain Group.
Canadian satellite operator Telesat contracted SatixFy to provide modems for 288 landing station antennas envisioned for the Telesat Lightspeed low Earth orbit broadband constellation.