- Space technology company Kleos Space (KSS) has entered a trading halt while it considers and executes a capital raise
- The company will remain in the halt until November 11 or when an announcement is made, whichever occurs first
- In a busy morning, Kleos also announced the successful launch of the Kleos Scouting Mission from India on November 7
- The operations team have successfully made contact with all four satellites, while onboard watchdogs are operational and battery status is as expected
- These satellites will detect and geolocate maritime radio frequency transmissions to provide global intelligence and surveillance when imagery is unclear
- Shares in Kleos last traded for 86 cents on November 5
Kleos Space (KSS) has entered a trading halt while it considers and executes a capital raise.
The company will remain in the halt until November 11 or when an announcement is made, whichever occurs first.
In a busy morning, Kleos also announced the successful launch of the Kleos Scouting Mission from the Satish Dhawan Space Centre (SDSC) SHAR, in Sriharikota, India on November 7.
The operations team have successfully made contact with all four satellites and confirmed that they have detumbled, onboard watchdogs are operational, and battery status is as expected.
These satellites will detect and geolocate maritime radio frequency transmissions to provide global intelligence, surveillance and reconnaissance capabilities when imagery is unclear.
This data will enable governments and other organisations to detect hidden maritime activity such as illegal fishing, trafficking and smuggling in areas such as the South China Sea and the African Coast.
“We are are very excited to have our first cluster of four satellites in orbit,” CEO Andy Bowyer said.
“This launch marks an important milestone for Kleos and will, post the satellite commissioning phase, enable the collection, then delivery of our commercial and independent data to government agencies, the ISR community and organisations interested in locating threats,” he added.
Shares in Kleos last traded for 86 cents on November 5.