Kleos Space, a Luxembourg-based startup that operates signals-intelligence satellites, has run out of cash and will file for bankruptcy.
The company’s financier on July 25 informed Kleos Space that it will no longer extend additional credit, a spokesman for Kleos Space, Lou Weis, said on July 26 in a statement to SpaceNews.
Kleos Space’s financing has been run by Pure Asset Management, an Australian investment firm. Kleos Space today notified the Australian Securities Exchange it plans to file for bankruptcy after failing to raise more money.
The company earlier revealed it had problems with a couple of the satellites it had launched and had to write them off.
The company suffered a series of setbacks due to space launch delays, and satellite development issues, and faced challenges accessing capital.
