On September 30, 2010, exactEarth Ltd. closed a $55,555,555 equity financing that comprised: (i) a $40,555,555 equity investment by COM DEV International Ltd. (“COM DEV”), including a $24,000,000 debt conversion; and (ii) a $15,000,000 equity investment by Hisdesat Servicios Estratégicos S.A. (“Hisdesat”), a major Madrid-based satellite operator and service provider.
exactEarth Ltd. is a data services company that leverages advanced microsatellite technology and globally deployed ground systems to deliver monitoring solutions.
COM DEV is a leading global designer and manufacturer of space hardware subsystems.
The COM DEV team was led by Tony Stajcer, Vice-President, Corporate Research & Development and Kenneth Friesen, Corporate Legal, and the exactEarth Ltd. team was led by Peter Mabson, President, and Ed Sloot. COM DEV and exactEarth Ltd. were represented by Gardiner Roberts LLP with a team consisting of Edgar Hielema, Jennifer Allen, William Bernstein (tax) and Alexander Eisenberg.
The Hisdesat team was led by Roberto López Fernández, CEO, and Miguel Angel García Primo, Chief Operations Officer. Hisdesat was represented by Antonio Cañadas of Roca Junyent, a Madrid-based general service firm.