Hi all,

the market got pretty excited today about the announcement.

I have to say I am less so.  In November 2020, EOS presented the Spacelink business case.   They advised the project wuld be financed via 70% debt / 30% equity split, with debt via vendor finance and export credit agencies.  Clearly, vendor financing did not eventuate, with OHB footing up just $25M of the +$300 M USD cost, and will get an equity stake in the business (the quantum of which was not explained).  

Funding will be raised via convertible notes - I dont see how $EOS has much hope in retaining 70% ownership using convertible notes though.....time will tell.   

I believe this deal places much more risk on EOS shareholders, and with the clock ticking an intiial $200 million to begin building the satellites and base stations.   I do not belive EOS have a very strong negotiating position here................If this isn't resolved my March, a painful capital raise may not be out of the question.....

Tread carefully strawpeople......