Arianespace out, SpaceX in
On Friday evening, Ovzon announced that the launch of its proprietary satellite, Ovzon-3, has seen further delays, and that it has decided to select SpaceX as its new launch provider (instead of Arianespace). The new anticipated launch window is Jul-Sep'23, which compares to Ovzon's previous guidance of Dec'22-Feb'23. The delay is expected to increase the total cost for the project with USD 25m. Previously, it had communicated a cost guidance of SEK 1.5bn (of which SEK 1.4bn was capitalised as of Q3). To cope with the increased costs, Ovzon has secured additional debt of USD 5m and received interest for equity financing of SEK 200m from its major shareholders (probably ~7% dilution).
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