Space monitoring firm NorthStar collapses in public market debut

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeInnovationInvestorSpace monitoring firm NorthStar collapses in public market debut'Space is contested, congested, and needs to be more secure... You don’t pick your timing. You figure out how to ride the timing'Author of the article:NorthStar went public to access capital to build a full-coverage, space-based sensor constellation, said CEO Stuart Bain. Photo by Supplied/NorthStar Earth and SpaceShares of space surveillance provider NorthStar Earth & Space Inc. dropped as much as 45 per cent on its first trading day on the New York Stock Exchange after merging with a blank-check company.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Montreal-based firm says its system — using satellite sensors, imagery processing, data and artificial intelligence — can address space collision threats by identifying and anticipating the position of objects. Clients include the Royal Canadian Air Force and North American and European military entities.This advertisement has not loaded yet, but your article continues below.The volume of space that needs to be monitored between Earth and geostationary orbit is “200,000 times the size of all the oceans combined, and you want to know where all the fish are,” chief executive Stewart Bain said in an interview. “Space is contested, congested, and needs to be more secure.”Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try againNorthStar went public to access capital to build a full-coverage, space-based sensor constellation, Bain said, adding that the initial public offering of Elon Musk’s Space Exploration Technologies Corp. gave the sector a boost: “You don’t pick your timing. You figure out how to ride the timing.”NorthStar stock traded at US$4.35 at 1:46 p.m. in New York, giving it a market capitalization of US$39.8 million.The firm merged Thursday with special purpose acquisition company Viking Acquisition Corp. I, sponsored by KingsRock Advisors LLC, which was formed by ex-Deutsche Bank AG executives. It will trade under the ticker NSTR.The business combination had pegged NorthStar at a pre-money equity valuation of US$300 million, the company said. It includes US$30 million from a private investment in public equity backed by Cartesian Capital Group LLC and other institutional investors. Most public shares were redeemed prior to the merger, Bain said, leaving a small amount in Viking’s trust account.The company, which has received about US$100 million in capital so far, is on track to earn over US$30 million in revenue in 2026.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.