Financially Speaking… Universal Space Network

Universal Space Network, Inc. (USN) provides outsourced space operations and ground control and communications services and they’ve just announced they have closed a $13M equity financing round and a $5M debt facility. The proceeds will pave the way for future growth and will be used near term for a planned acquisition and expansion of the company’s ground station network. The equity round was completed with existing shareholders led by Warburg Pincus, the global private equity firm, Swedish Space Corporation and Pistol Creek. In addition, the Frost Group, LLC and the Cycad Group, LLC increased their ownership positions in USN. Comerica Bank provided the debt financing. Near Earth LLC served as financial advisor to USN for these transactions. Hoyt Davidson, CEO of Near Earth LLC, said, “As an investment bank and advisory firm with a strong specialization in the commercial space industry, we are thrilled to have worked with the USN team in the implementation of its growth plans, and we look forward to continuing to do so with similar success.” To facilitate continued growth in the TT&C business sector, USN is also expanding its ground station network with additional S- and X-band antenna systems in Hawaii and Australia—Newport Beach, California