Kleos secures AU$10 million debt facility to accelerate growth

Kleos Space S.A. (ASX: KSS) announced that it had entered into a binding term sheet with Pure Asset Management Pty Ltd to secure a four-year AU$10 million debt facility, to fund the operations and satellite constellation growth. The company said that it is in a rapid growth period, and this debt facility will provide the capital to expand beyond its 12-satellite constellation, which is already in orbit, and the four satellites due to launch in 2H 2022.

The fund raised through the debt facility will be used to further increase its low earth orbit constellation beyond the satellites, which are already scheduled for launch in H2 2022, and increase its operational team to support growth.

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