ArcEdge Space Inc., which provides comprehensive solutions for microsatellite constellations, from planning and design to mass production and operation, is pleased to announce that it has raised 3 billion yen through a loan agreement with Mizuho Bank, Ltd.
With this transaction, the Company has raised a total of 15.5 billion yen (third-party allotment of new shares: 10.7 billion yen, loan agreements (including overdraft agreements): 4.8 billion yen).
The loan will be used for working capital related to our business, including the procurement costs of satellite components necessary for building a satellite constellation and the costs of launching the satellites.
Also Read: JAL, JALEC and Cresco Move Engine Inspections to Data
Currently, we are in the social implementation phase of satellites in multiple projects, and by strengthening our cash reserves, we will accelerate the establishment of a mass production system .
Furthermore, by combining equity financing with borrowings that keep capital costs low, we will strengthen our financial base and optimize capital costs.
SOURCE: PRTimes


