Government mobile satellite broadband provider Ovzon raises $27.4M in new equity in light of Ovzon 3 launch delay

by Peter B. de Selding

PARIS — Mobile satellite broadband hardwire and service provide Ovzon AB completed a $27.4-million share offering to Swedish and other institutional investors, shoring up its liquidity to offset the cost of a six-month delay in the launch of its Ovzon 3 satellite.

Ovzon said it will also use the proceeds from the Sept. 21 issue to boost its marketing effort and to initiate pilot projects with prospective Ozon 3 customers.

These efforts will be facilitated by Ovzon’s lease of steerable-beam capacity on fleet . . .

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