PARIS — Satellite data-relay startup Audacy, which raised $13 million in financing rounds and in 2018 secured a U.S. regulatory license for its medium-Earth-orbit constellation, has failed to meet a debt covenant and is now facing shutdown after an investor’s withdrawal, industry officials said.
For Audacy’s other investors, the most immediate question is whether to continue to make payments on the bond the company was obliged to take out in return for its U.S. Federal Communications Commission (FCC) license.
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