Allied Minds PLC HawkEye 360 Completes Second Closing of Series A (1728W)
February 07 2017 - 2:00AM
UK Regulatory
TIDMALM
RNS Number : 1728W
Allied Minds PLC
07 February 2017
7 FEBRUARY 2017
Allied Minds plc
Allied Minds' Subsidiary HawkEye 360 Completes Second Closing of
Series A Financing
Issues an additional $2.75 million of equity
Boston, MA (7 February 2017) - Allied Minds (LSE: ALM), a
diversified holding company focused on venture creation within the
life science and technology sectors, today announces that its
subsidiary, HawkEye 360, Inc. (HawkEye 360 or the company), a
developer of a space-based radio frequency (RF) mapping and
analytics system, has issued a further $2.75 million in new equity
in a second closing of the Series A preferred financing announced
on 23 November 2016. This includes the issuance of up to $1.5
million of warrants in association with a $3 million development
programme. Investors in the second closing include Woodford
Investment Management (Woodford) and Invesco Perpetual (Invesco).
The second closing takes the total amount of new equity issued by
Hawkeye 360 under the Series A preferred financing to $13.75m.
The development programme and the participation of Woodford and
Invesco in this funding round represent important steps for Hawkeye
360 as it continues its progress towards its objective of building
the world's first privately funded constellation of small
satellites capable of collecting data and generating analytics on
geolocated wireless signals. This capability will have multiple
applications across commercial and government spheres, including
the monitoring of transportation networks for safe activity and
improvement of rescue response times, and the study of RF spectrum
usage to help identify areas of interference, better understand
spectrum deployment, and avoid negative impact to operations.
Funds raised through both closings of the Series A preferred
round will be used to complete the development and manufacturing of
the HawkEye 360 Pathfinder Cluster of three small satellites, which
is scheduled for launch and testing in late 2017, as well as grow
the company's engineering and business development teams.
"The successful completion of this funding round further
underscores our confidence in Hawkeye 360 as it progresses towards
its commercial objectives" said Chris Silva, CEO of Allied
Minds.
"HawkEye 360 is excited to welcome Invesco and Woodford as
shareholders. As we move forward with preparations to launch our
Pathfinder cluster, we are excited to have a diverse group of
investors to support our efforts to scale this great company" said
John Serafini, CEO of HawkEye 360.
- Ends-
For more information, please contact:
Allied Minds plc +1 617 419 1800
------------------------------ -----------------------------
Chris Silva, Chief Executive www.alliedminds.com
Officer
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IR - Citigate Dewe Rogerson +44 20 7638 9571
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Rob Newman/ Shabnam Bashir alliedminds@citigatedr.co.uk
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Media - fama PR +1 617 986 5009
------------------------------ -----------------------------
Ted Weismann alliedminds@famapr.com
------------------------------ -----------------------------
About HawkEye 360
HawkEye 360 is developing a constellation of small satellites in
low Earth orbit (LEO) to generate reports on wireless signals that
can be used to track and monitor global transportation networks,
assist with emergencies, as well as other data analytics services.
The company seeks to provide highly accurate maritime situational
awareness, collecting information about vessels to create a wealth
of current and historical data useful for commercial planning and
monitoring, as well as emergency response. Similar data will be
available for airborne and land-based transportation and logistics
industries. More information about the company can be found at
www.he360.com.
About Allied Minds
Allied Minds is a diversified holding company focused on venture
creation within the life science and technology sectors. With
extensive access to hundreds of university and federal labs across
the U.S., Allied Minds forms, funds, and operates a portfolio of
companies to generate long-term value for its investors and
stakeholders. Based in Boston, with nationwide presence in Los
Angeles and New York, Allied Minds supports its businesses with
capital, central management, and shared services. For more
information, please visit www.alliedminds.com.
Allied Minds Forward-Looking Statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to
Allied Minds' future prospects, developments and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, those risks and uncertainties described in the risk factors
included in Allied Minds' regulatory filings. These forward-looking
statements are based on assumptions regarding the present and
future business strategies of Allied Minds and the environment in
which it will operate in the future. Each forward-looking statement
speaks only as at the date of this press release. Except as
required by law, regulatory requirement, the Listing Rules and the
Disclosure Guidance and Transparency Rules, neither Allied Minds
nor any other party intends to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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