Telesat gains on signing agreement with SpaceX

Telesat

11/09/2023 12:47

** U.S.-listed shares  TSAT.O  of Canada's Telesat up 2.1%
at $17.39 premarket
    ** Satellite operator Telesat  TSAT.TO  signs agreement with
SpaceX to launch its low-Earth-orbit (LEO) satellite
constellation Lightspeed starting in 2026
    ** LEO satellites operate 36 times closer to Earth than
traditional ones so they take less time to send and receive
information
    ** The contract covers 14 launches on SpaceX's Falcon 9
rocket
    ** Each Falcon 9 rocket will carry up to 18 satellites into
orbit, putting the constellation on track for deployment by the
end of 2027, Telesat says
    ** As of last close, Telesat's U.S.-listed shares have more
than doubled this year

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com; https://twitter.com/i_jass))