Our Core Satellite & Space index was down -4% in June, underperforming the S&P 500 which saw a gain of +4% and the MSCI Global (ex.-U.S.) index which saw a loss of -2%.​
We saw steady ongoing venture financing and M&A activity in June, with 13 announced venture financings (12 in the previous month), four M&A transactions (two in the previous month), and one IPO.  ​
There was one large M&A transaction, Honeywell’s pending acquisition of multi-domain defense electronics company CAES for an enterprise value of $1.9 billion, and one mid-sized transaction, with Gilat announcing its intent to acquire next-gen in-flight connectivity terminal provider Stellar Blu. ​
Astroscale raised ¥21 billion ($136M) in its Tokyo initial public offering, marking the third space startup-related IPO in Japan since 2023.