Satixfy Communications signs $10M in agreements

SatixFy Communications (SATX) announced that it has signed new agreements in aggregate valued at $5M, alongside an immediate prepayment of a previously announced $5M associated with an amendment to an existing contract with MDA Space. Agreements signed further the significant collaboration between the two companies initiated in October 2023. Under an amendment to the original master purchase agreement, signed in October 2023, a total of $3M was added to the scope of the original agreement, alongside an immediate prepayment of $5M that was previously announced but not yet paid. Additionally, an authorization to proceed agreement was signed between SatixFy and MDA Space, which is structured around two milestone payments totaling $2M in the aggregate and setting out the terms for future purchase orders.