FOR IMMEDIATE RELEASE
Space Coast, Florida - May 15th 2024 – BlackStar Orbital, a pioneering leader in reusable satellite technology and defense systems, is excited to announce the successful closing of it's seed funding round via a strategic investment agreement with CT Holdings Inc. This partnership, finalized in February and now being publicly announced, marks a significant milestone in BlackStar Orbital's mission to revolutionize space exploration and communication infrastructure.
Under this agreement, CT Holdings has made an undisclosed large-sum investment in BlackStar Orbital through a convertible note. This investment will accelerate BlackStar Orbital's growth via strategic hiring, prototyping and the opening of a corporate office in downtown Titusville Florida. This investment will kickstart Blackstars' plan to expand its foothold meeting the growing need for for responsive, high-performance spacecraft.
"We are thrilled to welcome CT Holdings as a strategic partner," said Christopher Jannette, CEO of BlackStar Orbital. "Their investment and support are a testament to the strength of our vision and the potential of our technology to make a significant and positive impact in this critical industry. This partnership will provide us with the resources and expertise needed to push the boundaries of what is possible in high performance satellite technology to maintain our lead in dynamic space drone operations."
As part of the agreement, CT Holdings will receive a position on BlackStar Orbital's Board of Directors, bringing their extensive industry knowledge and strategic insight to the table. This collaboration is expected to foster innovation, drive growth, and create new opportunities for both companies.
"We believe in the transformative potential of BlackStar Orbital's technology," said CT Holdings Principal Investor Chris Tracy.
He continued, stating. "Our partnership is a strategic move to support the future of satellite communications and space exploration. We are excited to work closely with BlackStar Orbital to achieve our shared goals as well as support their unique needs for critical secure IT infrastructure."
The partnership also includes an issuance of a mixture of common and preferred stock to CT Holdings, further aligning the interests of both parties and solidifying a long-term collaborative relationship.
"BlackStar Orbital is committed to pushing the frontiers of space technology, and this strategic investment is a crucial step toward realizing its ambitious goals. The company looks forward to the continued support and collaboration with CT Holdings as we work together to shape the future of aerospace technology." replied Christopher Jannette of Blackstar.
About BlackStar Orbital Technologies Corporation:
BlackStar Orbital Technologies Corporation specializes in the development of reconfigurable smallsat class spaceplanes, including the BlackStar-C spacecraft. The BlackStar-C is uniquely designed for effective payload deployment and cargo stowage, featuring an advanced modular payload bay system. BlackStar Orbital is committed to delivering innovative space solutions that meet the growing demand for sophisticated and reliable satellite deployment.
Learn more at https://www.spacedrone.io.
About CT Holdings
CT Holdings is an investment and holding company focused on supporting groundbreaking technologies and innovative companies seeking to break into emerging markets. CT Holdings is dedicated to fostering growth and success among it's network of clients and companies.
Media Contact:
Elizabeth Christensen
BlackStar Orbital
321-446-3128
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