OHB, a Bremen-based German satellite maker, said on June 15 that it plans a 500 million euros (US$579 million) rights issue. The funds will support mergers and acquisitions, investments in launch vehicles, and expanded production.

Majority owner the Fuchs family and Orchid Lux Holdco, which is owned by KKR, will waive their subscription rights.

KKR, which holds 28.6% of OHB, also plans a secondary share sale while retaining most of its stake.

OHB did not disclose pricing or volume.

Based on the company’s Friday closing price of 410 euros (US$480) the rights issue would amount to about 1.2 million new shares. That represent 6% of current share capital. OHB shares fell 10%.

Launch-vehicle funding would extend an existing strategy. OHB helped found in 2018 Rocket Factory Augsburg, a microlauncher developer in which it remains a shareholder.

🔗 Source: Reuters