Bandwidth seller Ovzon: Ovzon-3 on track at Maxar, Q1 profit up; rest of year to be difficult; plans $51M capital raise

by Peter B. de Selding

UPDATE April 29: This story has been updated to reflect Ovzon's proposal to raise $50.7 million by issuing new shares, partly to replace subordinated 11% loan used to finance the Ovzon-3 satellite.

PARIS — Satellite bandwidth seller Ovzon AB reported a higher operating profit for the three months ending March 31 compared to the previous year on a stronger U.S. dollar relative to the Swedish krona but warned that the rest of the year would reflect a Covid-19 related downturn in business.

Ovzon sells satellite . . .

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