Credit: Sky and Space Global

 

PARIS — Startup satellite IoT and messaging constellation operator Sky and Space Global (SAS) fell short in its effort to raise new capital from existing shareholders and will now depend on is investment banker to secure the needed funds.

While SAS, traded on Australia’s ASX exchange, received 98% shareholder approval to proceed with the capital raise during a Dec. 26 meeting, these same shareholders subscribed to only 11% of the total requested funds of 10.875 million Australian dollars ($7.5 million), or . . .

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