Commercial electronics-intel startup Kleos issues convertible notes to fund second 4-satellite cluster

by Peter B. de Selding

MARGARETVILLE, NY — Startup radio-frequency signals monitor Kleos Space has secured new investment in the form of secured convertible notes that will enable it to order a second four-satellite cluster of electronics-intelligence satellites, with a planned launch date in mid-2020.

Luxembourg-based, Australia- and Frankfurt-traded Kleos said the transaction, to total 3 million Australian dollars ($2 million) in two tranches, has a debt-to-equity conversion of 50 Australian cents per share, a 66% premium over where the company’s share closed Aug. 22 on the Australian . . .

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