Ovzon raises $8.8 million in sale of new shares to Sweden’s Stena AB, will speed development of terminals

by Peter B. de Selding

PARIS — Startup satellite broadband satellite operator Ovzon AB of Sweden raised 84.5 million Swedish krona ($8.8 million) in gross proceeds by selling 1.36 million new shares to Stena Finans AB, part of the large, diversified Stena AB Group.

Ovzon Chief Executive Magnus René said the company, whose first satellite, Ovzon-3, is scheduled for launch in 2021, would use the new capital to “expedite product development of terminals and further increase our marketing and sales activities.”

Ovzon said the share . . .

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