Sky and Space Global receives UK R&D tax credit, secures high-cost loan while completing share placement

by Peter B. de Selding

UPDATE OCT. 10: Sky and Space Global (SAS) received a tax rebate of 1.425 million British pounds ($1.74 million) from UK tax authorities as part of an R&D credit to the company's British subsidiary, and said it had secured a loan of $550,000 to tide it over while it completes a $10.15-million share placement, approved by shareholders on Sept. 27.

The 8-month loan from CSS Alpha(BVI) Ltd. matures on May 17, 2020, and comes attached with hefty charges. CSS Alpha is taking a 13 . . .

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