AAC Clyde Space completes acquisition of U.S. SpaceQuest
AAC Clyde Space AB announced on October 15, 2020 that an agreement had been reached to acquire all shares in SpaceQuest Ltd. All conditions for completion of the acquisition have been met and the acquisition has thus been completed. Hence, AAC Group has a strong foothold in the United States, the world's largest space market.
The completion of the acquisition was conditional partly on that a general meeting in AAC resolved to issue 24,000,000 shares and a maximum of 4,885,712 warrants as a partial purchase price, and partly on the approval of the Committee on Foreign Investments in the United States, CFIUS. An Extraordinary General Meeting in AAC was held on November 5, 2020, which resolved on the issue. On November 26, 2020, CFIUS determined that there were no unresolved national security issues with AAC's acquisition of SpaceQuest Ltd.