Brief: Thuraya To Invest In Astrocast Via Convertible Loan Valued

Astrocast SA

03/04/2023 06:47

April 3 (Reuters) - Astrocast SA  ASTRO.OL :
    * ASTROCAST AND YAHSAT'S MOBILITY ARM THURAYA STRENGTHEN COLLABORATION THROUGH A STRATEGIC
INVESTMENT IN LEO IOT
    * THURAYA AGREES HEADS OF TERMS TO INVEST IN ASTROCAST THROUGH A CONVERTIBLE LOAN VALUED AT
$17.5
MILLION
    * TRANSACTION WILL BE IN FORM OF A CONVERTIBLE LOAN
    * PARTIES WILL ALSO LOOK TO EXTEND TECHNICAL COOPERATION AGREEMENT FOR ANOTHER 4 YEARS

Source text for Eikon:  ID:nObi4pLlfa 
Further company coverage:  ASTRO.OL 

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