Our Core Satellite & Space index was down -5% in October, underperforming the S&P 500 which saw a loss of -1% and in line with the MSCI Global (ex.-U.S.) index which saw a loss of -5%.​
Transaction activity remained steady in the month, with 12 minority VC/PE equity financings, six M&A transactions, and one public equity financing announced.  ​
We saw the second space and satellite-related IPO this year with Lumir, a South Korean firm producing space electronics and satellites, in particular SAR satellites, announcing that it raised ~$21M in an IPO. The company priced the IPO below the initially targeted pricing range.​ ​