Kleos Space: Raises $12.6 million for satellite expansion

Kleos Space Raises $12.6 million for satellite expansion

• Kleos Space (KSS) receives strong support to raise $12.6 million to fund its technology, commercial growth and to expand its team
• Investors in Australia and the U.S supported the placement of around 14.8 million CHESS depositary interests over Kleos shares at 85 cents per CDI
• CEO Andy Bowyer welcomed new cornerstone investments from Perennial Value Management and Thorney Investment Group
• The funds will go towards expanding the company’s constellation with the launch of a fourth satellite cluster, and to scale its data-as-a-service offering
• It’s also looking to expand its team in Luxembourg, the UK and Denver to meet customer demand
• Shares are trading 13.6 per cent lower at 82.5 cents at 3:38pm AEST.