Filtronic's shares rise 50% after signing a $19.7mn deal with SpaceX for Starlink modules, with potential share acquisition.
Filtronic's shares surged by 50% after striking a deal with Elon Musk's SpaceX. The UK satellite internet firm will supply modules for SpaceX's Starlink satellite constellations under a $19.7mn contract, and SpaceX will be granted the option to acquire up to 10% of Filtronic's shares. This strategic partnership is expected to help Filtronic expand and exceed market expectations for 2024 and 2025.
April 24, 2024
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