Microsatellites firm SatRevolution will merge with easyCALL.pl, a company listed on the NewConnect market, using the reverse takeover mechanism. SatRevolution’s debut through the reverse takeover mechanism enables the company to raise capital faster.
“With the present extremely rapid development of SatRevolution as well as the entire space industry, this is a necessary action” – said the president of SatRevolution, Grzegorz Zwoliński.
In the light of the signed agreement, before the acquisition, the share capital of SatRevolution will be increased as a result of the issue of 654,151 series J, N, P, R and S shares with a nominal value of PLN 0.1 each. The issue is targeted at both new investors and the company’s key management personnel. A program of employee shares was also launched. The funds raised will be allocated to the development of SatRevolution.
“In the coming months, we plan to double the team from 50 to 100 people. We are looking for people for key positions, including programmers, mechanics, electronics and engineers. Soon we will start another financial round to raise funds to finance the entire constellation of Stork. We also plan to start construction of three microsatellites capable of acquiring high-resolution images. (…)”Zwoliński summed up.