Smallsat builder AAC Clyde falls short of goal in rights issue, says proceeds will further data-as-a-service business

by Peter B. de Selding

UPDATE July 26: This story has been updated to reflect the agreement of AAC Clyde Space and its partners to enter into final development of the xSpancion project, co-funded by the European Space Agency (ESA).

TUPPER LAKE, NY — Small satellite builder AAC Clyde Space, seeking to transform its business into a subscription-based Satellite Data as a Service (SDaaS) model, raised a net 35.9 million Swedish krona ($3.51 million) through a rights issue to existing shareholders.

Sweden- and UK-based AAC Clyde said it . . .

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