In Q3, Ovzon completed a directed share issue, which gave gross proceeds of SEK 238m (9% dilution). The share issue strengthens its balance sheet and thereby gives further headroom if the launch of Ovzon-3 does incur further delays. The launch is set to occur in Q2’22, and although we acknowledge that there are several moving parts – mainly related to the global supply chain issues – we understand that the project is in its final stage and we are therefore positive regarding the likelihood that the satellite will go into orbit during the set launch window.
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