Whatever the case - this will most likely be funded as a project with any equity raised as part of fully funding it. If the project stacks up there will be no problem raising equity and debt. This $80 USD is great initial validation, but funding has to be binary - either go or no. I suspect this would be separated from Defence as well if fully funded, or possibly snapped up by a biggie.
Ann: EFA issues USD$80 million letter of support for SpaceLink, page-10
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