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.”