"EOS announced on 17 March 2022 a strategic review to include future funding options for the Company’s SpaceLink, Defence and Space businesses. This conditional support from EFA will add funding options to that process. On 27 October 2021, EOS notified the market of USD$700 million funding requirement for Block-1 of SpaceLink. EOS also advised that its partner OHB Systems AG intended to invest USD$25 million in the form of a SpaceLink Pre-IPO Convertible Note. As a consequence of the large reduction in the funding requirement for SpaceLink’s Block-0a satellite constellation, EOS advises that it is not proceeding with the previously communicated capital raising approach. "
EOS Price at posting:
$2.75 Sentiment: Buy Disclosure: Held
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