Hello and welcome to Max Q!
In this issue:
- Intuitive Machines Enters Public Market
- silicon valley goes to war
- Announcements from Transcelestial, Umbra and more
Lunar technology company Intuitive Machines received much lower than expected cash from a merger with a special purpose acquisition company (SPAC), but its share price hit a big high last week despite a rocky start Did.
Intuitive Machines said the SPAC trust could supply the company with up to $301 million in dry powder, but shareholders could expect to receive a staggering $279.8 million before the transaction closes. have chosen to redeem the Redemptions may reflect relative fatigue among SPAC investors. SPACs have seen a significant rise in popularity over the past few years, but have seen a recent decline in popularity as post-SPAC companies struggle to survive on the public market.
But perhaps those shareholders regret getting their money back. The company’s shares closed at $10.03 on the first day of trading on Tuesday, before jumping 211% to $39.73 on Thursday.
An intuitive machine that renders a lunar lander. Image credit: intuitive machine
On TC+, I wrote about the increasing investment in defense technology over the last few years.
Only a few years ago, many investors thought writing a check to a defense-first startup was a dead proposition. The tide is clearly turning, and PitchBook data confirms this warming to defense technology. Between January and October of last year, the VC-backed company injected his $7 billion into aerospace and defense companies. This is strong growth in contrast to the relative slump in other sectors.
There are many reasons for the growing interest in defense technology, but driving them all is a new pragmatic vision spreading among some technologists and venture capitalists.It sees global conflict threaten national stability pax americanait sees the United States rotting from within due to bloat and lethargy. As a result, Silicon Valley thinking has returned to its defense roots, embracing the role that venture-funded startups can play in maintaining U.S. military and technological superiority around the world.
“If you believe in democracy, democracy needs a sword,” a16z general partner David Ulevitch said in a recent interview with TechCrunch. And Silicon Valley will be where it is built.
Image credit: Kiyoshi Tanno / Getty Images
More news from TC…
- space lab near me CEO Rema Matevosyan spoke to TechCrunch to explain the exact cause of the alleged Chinese spy balloon. (TC)
- space x The FAA will be fined $175,000 for failing to report certain data to the FAA before Starlink’s launch last August. (TC)
- super celestial bodyA Singapore-based startup has received $10 million to expand its wireless laser communication system to parts of Southeast Asia. (TC)
- Virgin Orbit The Start Me Up mission failed due to a failure of the second stage engine’s fuel filter and fuel pump. (TC)
…from
- Astranis won a $4.5 million Phase III SBIR contract with the U.S. Space Force to integrate tactical waveform technology into spacecraft. This includes a $6 million option for future orbital demonstrations with her Astranis satellite. (Astranis)
- blue origin has quietly announced Blue Alchemist, a program to develop technology to turn lunar regolith into solar cells and power lines. (blue origin)
- India Six months after the first failed launch attempt, a new SSLV rocket was successfully launched. (NASA space flight)
- Japan Aerospace Exploration Agency scrubbed the launch of the new H3 rocket at T-0. (Reuters)
- launcher’s The first spacecraft, Orbiter SN-1, ceased operation after being unable to generate power from its solar panels. (launcher)
- Max Umbra announced a new partnership this week. It combines Umbra’s synthetic aperture radar data with Maxar’s optical imagery to provide a composite product for customers. (Maxar)
- space rideA Canadian launch company that was developing a first-stage balloon vehicle has filed for bankruptcy. (payload)
- space x I have sold two oil rigs that I purchased in 2020. These were to be converted into Starship’s offshore launch platforms. (Space News)
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