In a #WSBW finance panel, Peter Cannito of Redwire Space says a drop in valuations of space companies “creates an opportunity for companies like ours” that has acquired such companies in the past.
Vaibhav Lohiya, Deutsche Bank Securities: consolidation for the sector is good; helps companies reduce and rationalize capital expenditures. Also growing interest in vertical integration to secure their supply chains. #WSBW
Lohiya, on rumors of an SES-Intelsat merger, notes it would make sense for rationalizing their fleets and reducing long-term capex. A challenge is that Intelsat is not considered “investment grade” given its recent Ch. 11 restructuring. #WSBW
Mike Palmer, Cerberus Capital Management, on space SPACs: it all happened very fast, perhaps a little too fast. May be short-term issues but there are long-term potential for these companies. [This after a chart showing all space SPACs but AST SpaceMobile down sharply.] #WSBW
Redwire’s Cannito: now that’s it harder to go public, an interesting scarcity of space companies on the public market when interest swings back to them. Takes a long-term view: “we’re in the first inning of spring training.” #WSBW
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