Filtronic strengthens order visibility for SpaceX's Starlink with warrants issue
Published: 08:22 19 Mar 2025 GMT
Filtronic PLC (LSE:FTC) has strengthened its strategic partnership with SpaceX to give a stronger guarantee of the flow of future orders for the E-band amplifiers that it supplies for the Starlink satellite programme.
"The partnership has been expanded to enable an increased allocation of business to Filtronic," the Country Durham business said, adding that it will increase its supply of modules to support the ongoing deployment of the rocket company's Starlink constellation.
Filtronic has issued 10.95 million warrants to SpaceX at an exercise price of 92.8p, enabling the US company to subscribe for a stake of up to 5%. Certain amounts of warrants are expected to vest based on the receipt of irrevocable purchase orders.
CEO Nat Edington called it an "important new phase of our strategic partnership with SpaceX", with an agreement that "demonstrates the value of our technology to one of the world's most innovative technology companies".
He said it gives Filtronic "greater visibility" and confidence that it is trading "marginally ahead" of market expectations for the financial year to May 2026.
Filtronic shares rose 1.8% to 105.9p, having rocketed up 45% over the past six months.
