D-Orbit announced plans Jan. 27 to go public through a merger with a special purpose acquisition company in a deal that values the Italian in-space transportation and logistics firm at $1.28 billion.Through the merger with Breeze Holdings Acquisition Corp., D-Orbit expects to raise $185 million, funds it will use to expand its staff and accelerate investments in products and services including its In-Orbit Now (ION) Satellite Carrier.D-Orbit was the first in-space transportation company to prove it could move satellites from the point where a large rocket drops them off in orbit to their desired orbital destinations. The Italian company has conducted four ION missions. Two more are scheduled in the first half of 2022.<snip>If all conditions for the merger are completed, including approval by Breeze Holdings Acquisition Corp. shareholders, D-Orbit common stock will trade on the Nasdaq Capital Market under the ticker symbol DOBT.In the news release, D-Orbit reported revenues of $3.4 million in 2021, a $21.5 million backlog, contracts being negotiated valued at $167 million and a $1.2 billion pipeline. The company expects to become profitable in 2024 with anticipated revenues of approximately $453 million.<snip>D-Orbit’s merger with Breeze Holdings is expected to be completed in the second or third quarter of 2022.
[Space News] D-Orbit cancels SPAC merger plan
📢Ready for launch! Our 11th ION is ready to lift off aboard @SpaceX Falcon 9 on the #Transporter8 mission from Space Launch Complex 4E (SLC-4E). The 57-minute launch window opens on June 12 at 2:19 p.m. PT (21:19 UTC). Live webcast 👉 spacex.com/launches/missi… Credits: SpaceX
