Kleos Space: Completes $10m debt facility with PURE Asset Management

Kleos Space Completes $10m debt facility with PURE Asset Management

• Kleos Space (KSS) completes its $10 million secured debt facility with PURE Asset Management to help fund its operations and satellite consultation growth
• The funds will be used to expand Kleos’ 12 satellite constellations already in orbit, with four expected to launch by the end of the year, and growing the operational team
• The facility comprises of two tranches, the first comprises of $6 million while the second comprises of $4 million
• In June, the company confirmed its fourth satellite cluster, Observer, is scheduled to launch on the next Transporter-6 SpaceX mission in October 2022
• Shares in Kleos are down 3.33 per cent, trading at 43.5 cents near market close