Satellite-AIS provider exactEarth to get cash lifeline from Hisdesat, Ewing Morris, MMCAP

by Peter B. de Selding

TOULOUSE, France — Commercial satellite maritime traffic monitoring service provider exactEarth Ltd. ended a year-long strategic review with a private placement to institutional shareholders including Hisdesat that raised a net 11.5 million Canadian dollars ($8.7 million), resolving an immediate liquidity crisis.

Canada-based exactEarth said the transaction, in the form of a convertible security secured against exactEarth’s assets, “will provide the company with a solid financial fooding going forward.”

Faced with a cash shortage that put into question its ability to meet its obligations and develop . . .

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