Sorainen advised NanoAvionics, a Lithuanian start-up manufacturing satellites, on securing an investment from AST&Science to support the company’s operational expansion globally. Under the terms of the investment, AST&Science has acquired all shares from venture capital firm Practica Capital and made an additional investment in NanoAvionics’ capital assets.
NanoAvionics is a small satellite platform manufacturer and mission integrator. Over the past few years, the company’s core engineering team has implemented over 40 successful satellite missions. NanoAvionics sold their products to customers in 20 countries, obtained innovation grants from the European Commission and won a contract with the European Space Agency (ESA).
Comments Vytenis Buzas, CEO of NanoAvionics: “NanoAvionics has made a huge leap in small satellite technologies in the past few years. Capital infusion, along with involvement of the broadly experienced AST&Science management team, will be a significant contributing factor in strengthening our position in the US market, along with further manufacturing and infrastructure development in Europe. Our enhanced venture will focus on the goal of becoming the go-to company for manufacturing and launching small satellite constellations for businesses worldwide.”
Sorainen advised the client on all aspects of the transaction, including preparations for the transaction, negotiating investment and related documents, advising on tax, employment, intellectual property and other matters.
The Sorainen team was led by partner Laimonas Skibarka and associate Vytautas Sabalys and included associates Ignas Motiejūnas, Juliana Pavilovska and Laura Matuizaitė.