PARIS — Satellite IoT startup Astrocast of Switzerland has agreed to purchase Dutch IoT startup Hiber Global in a transaction that solves two problems facing Astrocast: a near-term liquidity crunch and the lack of L-band spectrum over the Americas.
Under the agreement, Astrocast has agreed to issue new shares to Hiber’s owners equivalent to 16.5% of Astrocast’s current equity. In addition, Hiber shareholders agreed to purchase 10.45 million euros ($11.2 million) as part of Astrocast’s planned introduction onto the Euronext Growth Paris market.
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