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01 Apr 26. Amphenol Announces Details of Open Offer for ADC India Communications Limited. Amphenol Corporation (NYSE: APH) (the “Company” or “Amphenol”), as part of its completed acquisition (the “CCS Acquisition”) of the Connectivity and Cable Solutions business from Vistance Networks, Inc. (formerly known as CommScope Holding Company, Inc., or “Seller”), had previously announced its open offer to acquire up to 1,196,000 fully paid-up equity shares of face value of INR 10 of ADC India Communications Limited (the “Target Company”), representing 26.00% of the Target Company’s voting share capital, from the public shareholders of the Target Company, pursuant to and in compliance with the requirements of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (the “SEBI (SAST) Regulations”) (the “Open Offer”). After the completion of the CCS Acquisition, the Target Company became an indirect majority-owned subsidiary of Amphenol.
In accordance with SEBI (SAST) Regulations, the date of commencement of the tendering period will be April 2, 2026 and date of closure of the tendering period will be April 17, 2026.
The Open Offer is a mandatory open offer under Regulations 3(1), 4 and 5(1) of the SEBI (SAST) Regulations and is being made as a result of an indirect acquisition of voting rights and control of the Target Company by the Company, pursuant to execution of the Purchase Agreement, dated as of August 3, 2025, by and between the Seller and the Company (the “Purchase Agreement”). The Open Offer is being made at a price of INR 1,233.59 (or approximately US$13.03) per share (the “Offer Price”), and assuming full acceptance under the Open Offer, the total consideration payable by the Company in cash will be INR 1,475,373,640.00 (or approximately US$15.59 million). The Open Offer is not conditional upon any minimum level of acceptance.
The public announcement published on August 6, 2025, supplemental information regarding the participation in the Open Offer, and the complete terms and conditions of the Open Offer as set out in the Detailed Public Statement issued by the Company on January 15, 2026 and the Open Offer Opening Advertisment issued by the Company on April 1, 2026 are posted on the “Investors – News & Events” section of the Company’s website and are also available on SEBI’s website at www.sebi.gov.in. Such documents contain important information about the Open Offer and related matters, and we encourage all public shareholders to review those materials in detail prior to making a decision regarding the Open Offer. (Source: BUSINESS WIRE)
01 Apr 26. Sidus Space, Inc. (NASDAQ: SIDU) (the “Company” or “Sidus”), an innovative space and defense technology company, announced its financial results for the fourth quarter and full-year ended December 31, 2025, and provided a business update.
“2025 was a pivotal year for Sidus as we continued executing our long‑term strategy to build vertically integrated space and defense technology platforms,” said Carol Craig, Founder and CEO of Sidus Space. “We expanded our on‑orbit capabilities with the successful launch and commissioning of LizzieSat‑3, advanced our AI‑enabled computing ecosystem, and strengthened our balance sheet through strategic capital raises that provide the resources needed to support future growth. While near‑term financial results reflect continued investment in satellite operations, infrastructure, and organizational capabilities, we believe these investments support the scaling of satellite platforms, technology offerings, and AI‑enabled data solutions, advancing revenue opportunities in the periods ahead.”
Operational Highlights for Fiscal Year 2025:
- Successfully launched LizzieSat‑3 in March 2025, expanding Sidus’ on‑orbit satellite fleet and achieving successful bus level commissioning
- Demonstrated on‑orbit AI processing through the Sidus Orlaith AI ecosystem, enabling near real‑time data analytics directly from space
- Achieved operational milestones for hosted payloads, including maritime Automatic Identification System (AIS) sensing and successful sub-5-meter resolution on‑orbit imagery validation with HEO USA’s NEI imager
- Advanced designs for multiple next‑generation satellite platforms supporting GEO, cislunar, and lunar missions, including LunarLizzie, an 800+kg platform
- Amended and extended the Lonestar Data Holdings lunar satellite manufacturing agreement, increasing total contract value to $120 million, and integrating a payload on LS-5 upcoming mission
- Executed a Memorandum of Understanding (MOU) with Saturn Satellite Networks to support development of a next‑generation GEO satellite platform.
- Executed an MOU with Reflex Aerospace to explore joint satellite fleet services and expand global mission offerings.
- Expanded partnership with Little Place Labs, enabling near real‑time maritime intelligence through LizzieSat‑powered vessel detection capabilities.
- Partnered with VORAGO Technologies to advance radiation-hardened compute for scalable space and defense infrastructure.
- Awarded a five‑year IDIQ contract with Tobyhanna Army Depot (TYAD) to provide fabrication and on‑call support for electrical harnesses and cable assemblies, mechanical components and assemblies and welding services
- Secured a subcontractor role with MobLobSpace under NASA’s Small Business Innovation Research (SBIR) Radar Initiative, with LizzieSat selected as the hosting platform.
- Awarded a ten-year IDIQ contract under the Missile Defense Agency (MDA) Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) Indefinite Delivery/Indefinite Quantity (IDIQ), a scalable homeland defense program with a total potential ceiling of $151 billion.
- Completed delivery of final hardware enclosures for NASA’s Mobile Launcher 2, supporting Artemis-related infrastructure.
- Expanded dual‑use hardware production to meet growing demand for SOSA‑aligned compute modules and subsystem architectures.
- Delivered a custom FeatherEdge Data Processing Unit (DPU) for Xiomas Technologies under a NASA Phase II Sequential Award, alongside advanced software and a completed final technical report supporting thermal imaging missions
- Expanded Intellectual Property (IP) portfolio to 15 issued patents, through continued filings supporting modular satellite manufacturing, ruggedized multi-domain compute architectures, and AI-enabled mission payloads.
- Continued growth of Sidus’ mission operations capabilities, supporting 24/7 spacecraft monitoring and tasking
- Strengthened leadership and governance with appointments to executive management and the Board of Directors to include:
o Hired Mr. Adarsh Parekh as Chief Financial Officer, bringing additional experience in capital strategy and financial leadership.
o Appointed Ms. Tiffany Norwood, a globally recognized technology entrepreneur and business leader, to the Board of Directors.
o Appointed Ms. Kelle Wendling, a seasoned senior aerospace and defense executive with more than three decades of executive leadership and government contracting experience, to the Board of Directors.
Subsequent Operational Highlights:
- Announced the achievement of an integration milestone with Maris‑Tech Ltd. (NASDAQ: MTEK, MTEKW), with Maris‑Tech’s advanced video and AI‑based edge computing payload scheduled to fly aboard Sidus’ (LS‑4) mission, expected to launch in Q4 2026.
- Signed a Memorandum of Understanding (MOU) with Simera Sense, a provider of optical payloads and Earth observation analytics, outlining a strategic collaboration focused on developing next‑generation hyperspectral imaging solutions with onboard data processing for government and commercial missions.
- Announced the successful receipt of a series of on‑orbit images from HEO USA’s non‑Earth imaging (NEI) camera aboard (LS‑3), representing a payload performance milestone distinct from spacecraft commissioning activities.
Financial Highlights for the Full Year Ending December 31, 2025:
Total revenue for the twelve months ending December 31, 2025, was approximately $3.4 million, a decrease of approximately $1.3 million or 28% compared to total revenue for the twelve months ended December 31, 2024. This decrease reflects Sidus’ continued strategic transition toward higher-margin satellite manufacturing, data, and technology business lines, as the Company focuses on building a scalable, recurring revenue base anchored by its growing LizzieSat fleet.
Cost of revenue increased 48% for the twelve months ended December 31, 2025, to approximately $9.1 million as compared to approximately $6.1 million for the twelve months ended December 31, 2024. The increase was primarily driven by higher depreciation costs associated with the expansion of Sidus’ on-orbit satellite fleet, including the deployment of LizzieSat-2 and LizzieSat-3 and related satellite software, as well as the direct labor required to support growing on-orbit operations. Although depreciation will continue to impact cost of revenue, it is expected to be significantly offset as we grow our high-margin satellite and data-related revenue.
Gross loss for the twelve months ended December 31, 2025, was approximately $5.7 million, compared to a gross loss of approximately $1.5 million for the twelve months ended December 31, 2024. Gross profit margin was negative 168% for the full year 2025 as compared to negative 31% for the full year 2024. The change was primarily driven by higher non-cash depreciation reflecting the significant progress Sidus has made in deploying its LizzieSat satellite fleet and building the infrastructure to support long-term, high-margin satellite data revenue.
Selling, general, and administrative expenses for the twelve months ended December 31, 2025, totaled approximately $22.3 million, including a $4.5 million non-cash impairment charge related to LizzieSat-1 and associated assets. Excluding this non-cash charge, core SG&A totaled approximately $17.8 million, an increase of approximately $3.6 million compared to the same period in the prior year. Increases to payroll to support the Company’s expanding satellite operations and business development activities, mission control expenses, and consulting services were partially offset by meaningful reductions in D&O insurance premiums, professional fees, and fundraising costs.
Adjusted EBITDA loss, a non-GAAP measure, for the twelve months ended December 31, 2025, totaled $17.3 million as compared to an Adjusted EBITDA loss of $12.9 million for the same period in the prior year, with the increase driven primarily by higher payroll and satellite operations costs as the Company continues to scale its LizzieSat fleet and data platform toward profitability.
Total non-GAAP adjustments for interest expense, depreciation and amortization, severance costs, capital markets and advisory fees, equity-based compensation and impairment loss are provided in the reconciliation table below.
Net loss for the twelve months ended December 31, 2025, was $29.5 million, compared to a net loss of $17.5 million for the same period in 2024. The increase includes a $4.5 million non-cash impairment charge related to LizzieSat-1 and associated assets.
Balance Sheet:
As of December 31, 2025, the Company had $43.2 million of cash as compared to $15.7 million on December 31, 2024, which represents an increase of $27.5 million, driven by equity capital raises completed in the third and fourth quarters of 2025. The strengthened cash position puts Sidus in an excellent position to accelerate development of LizzieSat-4 and LizzieSat-5 and continue executing its growing pipeline of high-margin satellite and data programs.
Current assets increased by approximately $28.4 million, or 128%, to $50.7 million as of December 31, 2025, from approximately $22.3 million as of December 31, 2024. The increase is primarily attributable to our increased cash balance.
Current liabilities increased by approximately $811,000, or 6%, to approximately $15.0 million as of December 31, 2025, from approximately $14.2 million as of December 31, 2024. The increase was attributable to an increase in accounts payable and the asset-based loan liability, partially offset by a decrease in notes payable. (Source: PR Newswire)
31 Mar 26. GomSpace has received an Authorization to Proceed (ATP) valued at 815.000 EUR (8.8 MSEK) from Unseenlabs, a leading European provider of maritime surveillance and radio-frequency intelligence services. The ATP enables GomSpace to initiate the procurement of key components required for the next tranche of Unseenlabs’ microsatellite constellation.
GomSpace Secures 815.000 EUR (8.8 MSEK) Authorization to Proceed from Unseenlabs for Next Constellation Tranche
GomSpace has received an Authorization to Proceed (ATP) valued at 815.000 EUR (8.8 MSEK) from Unseenlabs, a leading European provider of maritime surveillance and radio-frequency intelligence services. The ATP enables GomSpace to initiate the procurement of key components required for the next tranche of Unseenlabs’ microsatellite constellation.
This early authorization is a critical milestone, allowing both companies to secure the production timeline, protect the targeted launch schedule, and ensure on-time, on-quality delivery of future spacecraft. The company expects to sign the full contract in the second quarter.
“Our long-term partnership with Unseenlabs is built on trust, agility, and a shared commitment to industrial excellence,” said Carsten Drachmann, CEO of GomSpace. “By anticipating component procurement and accelerating early phases of the program, we help our customers de-risk their roadmap and meet ambitious deployment timelines. This approach is deeply embedded in GomSpace’s DNA.”
The ATP is part of the broader program framework between Unseenlabs and GomSpace and reflects the ongoing demand for resilient, high-performance RF intelligence assets in Europe and globally. (Source: PR Newswire)
01 Apr 26. Shield AI Raises $2bn to Reach $12.7bn Valuation, Acquires Software Company Aechelon.
Shield AI announced it is raising $1.5 billion in Series G funding at a $12.7 billion post-money valuation, alongside $500 million in fixed-return preferred equity financing.
The round is led by Advent International and co-led by JPMorganChase’s Strategic Investment Group under its Security and Resiliency Initiative, with participation from existing investors including Snowpoint Ventures, InnovationX, Riot Ventures, Disruptive, and Apandion.
Funds managed by Blackstone are providing the $500 million preferred equity investment and an additional $250 million delayed draw facility. Advent Chairman David Mussafer will join Shield AI’s Board, while JPMorganChase’s Todd Combs will serve as Board Observer.
Part of the proceeds will fund Shield AI’s planned acquisition of Aechelon Technology, a defence software firm specializing in high-fidelity simulation and synthetic environments used by the U.S. military, including the Pentagon’s Joint Simulation Environment. Aechelon will continue operating independently, with CEO Ignacio Sanz-Pastor reporting to Shield AI CEO Gary Steele.
The deal underscores a broader shift toward software-defined defence capabilities built and refined through simulation and real-world data. Steele said the acquisition will accelerate development of Shield AI’s Hivemind AI pilot system and its Foundation Model for Defense.
The funding will also support development of Shield AI’s X-BAT program. Investors highlighted the company’s growth potential, citing its V-BAT platform and Hivemind’s track record across multiple autonomous systems.
Hivemind has already piloted 26 vehicle types, including F-16s, UAVs, and ground systems, and was recently selected by the U.S. Air Force for its Collaborative Combat Aircraft program.
The Aechelon acquisition is subject to regulatory approval. Advisors on the transaction included Sidley Austin, Covington & Burling, J.P. Morgan Securities, and Morgan Stanley.
(Source: UAS VISION)
25 Mar 26. SpaceX Accelerates Record-Breaking IPO Following Trillion-Dollar xAI Merger.
On March 25, 2026, industry reports indicated that SpaceX is moving to file its initial public offering (IPO) prospectus with U.S. regulators as early as this week or next.
The filing sets the stage for a historic June 2026 market debut, with advisors suggesting the company could seek to raise over $75 billion. The IPO follows a transformative February 2026 merger with Elon Musk’s artificial intelligence firm, xAI, which valued the combined aerospace and AI entity at $1.25 trillion.
The merger represents a fundamental shift in SpaceX’s architecture, pivoting toward the development of orbital data centers. By integrating Starlink’s global satellite mesh with xAI’s large language models, the company aims to move massive compute workloads into space to leverage constant solar energy and natural radiative cooling. This strategic realignment has propelled SpaceX’s valuation toward a target of $1.75 trillion ahead of its Nasdaq listing.
Two Decades of Disruption and 2025 Performance
Since its founding in 2002, SpaceX has rewritten the economics of spaceflight through the development of reusable launch vehicles. The company entered 2026 coming off its most prolific year to date, completing 122 successful launches in 2025. This flight rate allowed the company to deploy more than 3,000 satellites for its Starlink constellation, which now serves over 9.2 million active subscribers globally.
Financially, the company has transitioned from a venture-backed startup to a global telecommunications utility. In 2025, SpaceX generated approximately $16 billion in revenue with $7.5 billion in EBITDA. This profitability, largely driven by the Starlink business unit, provides the foundational data required for the transition to a public company.
Technical Roadmap: Starlink V3 and Starship Capability
The upcoming IPO valuation is heavily anchored by the transition to the Starlink V3 platform, which is designed for high-cadence deployment via the Starship heavy-lift system.
- Capacity: 1 Tbps per satellite, a ten-fold increase over the current V2 Mini capacity.
- Mass: Approximately 1,500 kg per satellite.
- Deployment: Starship is capable of carrying roughly 60 V3 satellites per flight, adding 60 Tbps of capacity to the orbital network with each launch.
- Mission Focus: Use of integrated laser mesh networking to support real-time AI processing in orbit for both commercial and defense (Starshield) users.
Executive Perspective
“By merging xAI with the orbital infrastructure of SpaceX, we are building a vertically integrated innovation engine on and off Earth,” said Elon Musk, CEO of SpaceX. “This IPO will allow us to fund the ambitious flight schedule for Starship, establish space-based data centers, and accelerate the timeline for a permanent lunar base.“
The Nasdaq Debut and Strategic Autonomy
The June IPO is projected to be the largest in history by cash raised, potentially surpassing the $29.4 billion proceeds of Saudi Aramco’s 2019 debut. To maintain operational control and long-term vision, the listing is expected to utilize a dual-class share structure, ensuring that internal leadership retains majority voting power while accessing public capital markets.
Success for the listing will likely be influenced by the late-March test flight of the Starship vehicle. A successful orbital mission and recovery of the first-stage booster via the launch tower catch system are considered the final technical validations required to secure institutional backing for the $1.75 trillion valuation target. (Source: Satnews)
26 Mar 26. Sagewind Capital, a defense and government technology-focused private equity firm, today announced a definitive agreement to sell its portfolio company, Aechelon Technology (“Aechelon”), to Shield AI. The transaction is expected to close following customary regulatory approvals.
Aechelon is a leading provider of cutting-edge technology for simulation and geo-specific databases, supporting both manned and unmanned systems across all major Department of War service branches. The company’s software enables hyper-realistic, physics-based synthetic environments to train both warfighters and autonomous systems. Aechelon is the simulation technology provider for the Pentagon’s Joint Simulation Environment (JSE), which is used by the U.S. military to test and validate next-generation autonomous systems and combat aircraft.
Shield AI is a defense technology company building state-of-the-art autonomy software and aircraft. Its focus on autonomy and AI-driven systems makes it a natural partner to integrate Aechelon’s high-fidelity simulation capabilities into next-generation defense platforms. The transaction reflects continued momentum in the defense technology market, where scalable digital solutions and high-fidelity data environments are central to modern defense architectures and long-term modernization efforts.
Since its investment in Aechelon, Sagewind has worked alongside Aechelon’s leadership team to bolster organizational infrastructure and invest in R&D to further technological capabilities for expansion into new markets. With the support of Sagewind, Aechelon also completed a highly strategic acquisition that broadened the company’s platform within advanced radar simulation capabilities.
“We partnered with Aechelon based on the depth of its technical capability, the strength of its leadership team, and its marquee position on some of the most sought-after and strategic national defense programs in the simulation, training, and autonomy markets,” said Raj Kanodia, Co-Founder and President of Sagewind Capital. “Over the last three decades, the company has built incredible capabilities in simulation and data that have direct applications to the emerging autonomous pilot and real-time virtual intelligence, surveillance, and reconnaissance (ISR) markets. Sagewind couldn’t be prouder to have supported management’s vision of investing in new markets and the growth we were able to achieve together as partners.”
“Over the past several years, our team has steadily expanded our platform to address the growing complexity of mission requirements and to expand into emerging market niches,” said Ignacio (Nacho) Sanz-Pastor, Co-Founder and Chief Executive Officer of Aechelon. “Sagewind understood our vision and worked closely with our leadership team, bringing strategic perspective and operational and financial support as we strengthened our infrastructure and capabilities. Joining Shield AI enables us to accelerate the deployment of our AI-enabled solutions at scale across critical defense programs.”
J.P. Morgan Securities LLC served as exclusive financial advisor to Aechelon. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Sagewind and Aechelon, and Morrison & Foerster LLP advised Aechelon on government contracting matters.
About Sagewind Capital
Founded in 2015, Sagewind is a defense and government technology-focused private equity firm with offices in both New York City and Washington DC. Sagewind partners with exceptional management teams to build the next generation of defense and government technology leaders that further key National Security initiatives. Sagewind invests in companies whose offerings protect our warfighters and strengthen the communities they serve. For more information, please visit www.sagewindcapital.com.
About Aechelon Technology
Aechelon is a global leader in simulation and training systems, specializing in geo-specific flight simulators and physics-based sensor AI training. Aechelon’s cutting-edge Synthetic Reality (SR) platform replicates real-world environments with unmatched realism, enabling both humans and machines to operate effectively in complex, detail-rich environments. This technology allows pilots to train for complex, high-stakes situations in immersive, ultra-realistic virtual settings.
Developed for the most demanding training, simulation, and analysis missions, Aechelon’s Synthetic Reality has been the trusted tactical simulation choice of militaries throughout the free world for decades and is now bridging the gap between human and autonomous pilot training. Aechelon Technology is a Sagewind Capital platform company – please visit www.aechelon.ai for more information. (Source: PR Newswire)
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Ultra-high precision, modularity and speed to defeat dynamic targets
OpenWorks is a provider of modular autonomous vision systems that deliver ultra-high performance real-time detection, identification and tracking of highly dynamic aerial threats at long range.
Our specialist capability lies in our dynamic positioners, EO/IR optical units, approach to sensor fusion and common interface that enables the integration of third-party detectors, classifiers, interceptors and effectors. Artificial intelligence modules work seamlessly with primary detectors and C2 to provide comprehensive detection, identification, tracking and slewing-to-cue against complex backgrounds and foregrounds.
OpenWorks is internationally and operationally proven across C-UAS and Air Defence.
Vision Pace
Designed to enhance dynamic multi-threat engagement, Vision Pace offers microradian precision targeting to kinetic defeat chains, marking a step-change for layered air defence. The development is intended to provide capability to expeditionary force protection, GBAD, SHORAD, M-SHORAD across land and naval domains.
Vision Flex
Vision Flex provides the highest performance surveillance, tracking and classification capability available, for use on static, mobile and un-crewed systems. Vision Flex cameras are highly configurable and can be used with built-in twin-AI modules of third Party classifiers and trackers.
Vision Flex is easy to integrate through standard interfaces and has a range of plug-and-play optical modules and upgrades to allow it to be configured easily to suit each mission or site.
Vision Guard
Vision Guard is a highly configurable, autonomous, portable and deployable platform that provides automated alerts with AI detection and classification.
It can be configured with combinations of active and/or passive sensors to suit the mission. Detections and alerts are streamed out to a handheld tablet or other systems via the standard interface, SAPIENT, Asterisk etc.
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