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Spaceflight Industries goes through restructuring

Spaceflight team
Spaceflight’s team gathers in front of SpaceX’s facilities at Vandenberg Air Force Base in California during preparations for a dedicated-rideshare launch. (SpaceflightInc via Twitter)

Seattle-based Spaceflight Industries laid out the status of a debt restructuring plan this week in advance of its most ambitious satellite launch operation to date.

Documents filed with the Securities and Exchange Commission on Nov. 13 describe an offering of $29.9 million in debt instruments and options for other securities, with five investors participating to date. The filing said $22 million of the offering has been sold, with $7.9 million remaining.

Spaceflight Industries spokeswoman Jodi Sorensen told GeekWire in an email that the filing was triggered when the company finished up a restructuring deal.

“Part of that funding ($15M) went through restructuring, making it more available to us, while the current investors did invest another $7M,” she explained. “So some is from restructuring, some is net new investment.”

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By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.

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