Filtronic expands strategic partnership with SpaceX

(Sharecast News) - Filtronic announced on Wednesday that it has expanded its strategic partnership with SpaceX, securing an increased allocation of business to supply advanced E-band SSPA modules for the Starlink satellite constellation. The AIM-traded firm said the agreement built on the initial partnership signed in April last year.

As part of the expanded collaboration, Filtronic said it had issued 10,949,079 warrants to SpaceX at an exercise price of 92.8p.

The warrants would allow SpaceX to subscribe for up to 5% of Filtronic's existing share capital, with vesting dependent on the receipt of irrevocable purchase orders.

It said the issue of the warrants was being conducted under existing shareholder authorities granted at Filtronic's October annual general meeting.

"The new agreement demonstrates the value of our technology to one of the world's most innovative technology companies and secures further significant supply of E-band SSPAs into the Starlink constellation," said chief executive officer Nat Edington."This gives us greater visibility and confidence that we are trading marginally ahead of market expectations for our financial year ending 31 May 2026.

"This continues to be an exciting time for the business, and we look forward to continuing our relationship with SpaceX."

At 1055 GMT, shares in Filtronic were up 3.17% at 107.3p.

Reporting by Josh White for Sharecast.com.