Posted on 10/26/2005 6:05:45 PM PDT by KevinDavis
SpaceDev, a company known for its contributions to private space travel efforts, announced Oct. 26 that it is merging with Starsys Research Corp. of Boulder, Colo.
The Poway-based company will pay $1.5 million in cash and $7.5 million in stock to complete the merger and make Starsys a wholly owned subsidiary of SpaceDev. Approximately $4.6 million worth of debt acquired by Starsys will also be paid off by SpaceDev, which has also agreed to forgive a $1.2 million loan the company previously made to Starsys.
SpaceDev, which has about 50 employees, rose to international fame in the space exploration community last fall when it provided the rocket motors used to propel the first private citizen into suborbital space twice in less than 10 days, clenching the coveted Ansari X prize for project backer and famed Microsoft co-founder Paul Allen. In addition to its signature hybrid rocket motors fueled by a combination of laughing gas and rubber, SpaceDev is a provider of micro- and nano-satellites used by the U.S. military and NASA.
(Excerpt) Read more at sdbj.com ...
That's the only way we will go forward in space. Private enterprise.
Agreed.... This is the company to watch...
> This is the company to watch...
Actually, I'd watch XCOR and Rocketplane Ltd. XCOR *already* has a number of lucrative contracts inlcuding building rocket-racers, and Rocketplane looks pretty set to start flying paying customers in 2007.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.