REG - Filtronic PLC - Filtronic Expands Strategic Agreement with SpaceX

FiltronicAnnouncement

19/03/2025 07:00

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RNS Number : 1756B  Filtronic PLC  19 March 2025

 

 

19 March 2025

Filtronic plc

("Filtronic" or the "Company")

 

 Filtronic Expands Strategic Agreement with SpaceX for Starlink constellation

 

Filtronic plc (AIM: FTC), a leading provider of high-performance RF,
microwave, and mmWave components and subsystems for the defence and space
markets, is pleased to announce a significant development in its strategic
partnership with SpaceX. The partnership has been expanded to enable an
increased allocation of business to Filtronic, deepening the collaboration
between the two companies.

 

Building upon the initial agreement signed in April 2024, this enhanced
partnership reflects SpaceX's continued confidence in Filtronic's cutting-edge
technology and engineering expertise. As part of this agreement, Filtronic
will increase its supply of advanced E-band SSPA modules to support the
ongoing deployment of SpaceX's Starlink constellation, which provides
high-speed, low-latency internet to users worldwide.

 

In recognition of the increased business levels, the Company has issued a
total of 10,949,079 warrants to SpaceX at an exercise price of 92.8 pence,
which enables SpaceX to subscribe for up to a maximum of 5% of the Company's
existing share capital, with such warrants expected to vest, on a variable
basis, based on the receipt of irrevocable purchase orders.

 

The warrants are being issued utilising the existing shareholder authorities
granted at the Annual General Meeting of the Company held in October 2024.

 

Nat Edington, Chief Executive Officer, of Filtronic commented: "We are
delighted to enter this important new phase of our strategic partnership with
SpaceX. The new agreement demonstrates the value of our technology to one of
the world's most innovative technology companies and secures further
significant supply of E-band SSPAs into the Starlink constellation. This gives
us greater visibility and confidence that we are trading marginally ahead of
market expectations for our financial year ending 31 May 2026. This continues
to be an exciting time for the business, and we look forward to continuing our
relationship with SpaceX."

 

Enquiries:

 Filtronic plc                                                 Tel. 01740 618800 or investor.relations@filtronic.com
                                                               (mailto:investor.relations@filtronic.com)
 Nat Edington (Chief Executive Officer)
 Michael Tyerman (Chief Financial Officer)

 Cavendish Capital Markets Limited                             Tel. 020 7220 0500
 Jonny Franklin-Adams, Isaac Hooper, Trisyia Jamaludin (Corporate Finance)
 Sunila de Silva, Ondraya Swanson (ECM)

 Walbrook PR Limited                                           Tel. 020 7933 8780 or filtronic@walbrookpr.com
                                                               (mailto:filtronic@walbrookpr.com)
 Nick Rome, Joe Walker

 

 

Note: This announcement contains inside information which is disclosed in
accordance with the Market Abuse Regulation.

 

 

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