More indications balloon company Space Perspective is about to go bankrupt
New details reported yesterday strongly suggest that the high altitude balloon company Space Perspective has been unable to find new investors and is on the verge of shutting.
In a February 5 email to stakeholders, Interim CEO Michael Savage provided the latest updates, shedding light on failed funding efforts, the company’s dire financial situation, and attempts to restructure its debt. The email also acknowledged the gravity of the challenges ahead, hinting at the possible closure of operations.
Savage’s email outlined efforts to secure funding, including meetings with investors Fortuna and Broadlight, both of whom ultimately declined to proceed. Savage explained that while there was initial interest, the company’s mounting debt and financial instability deterred further investment. “Both [investors] have expressed interest, but despite the current circumstances and since Nov./Dec. 2024, they feel that their LPs would not stomach the numbers,” Savage wrote.
The company has previously announced it was shifting operations out of the Cape Canaveral area to a location 90 miles north where costs were less as it searched for new investors. This new report suggests this move and the search have not worked and the company will soon go out of business.
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New details reported yesterday strongly suggest that the high altitude balloon company Space Perspective has been unable to find new investors and is on the verge of shutting.
In a February 5 email to stakeholders, Interim CEO Michael Savage provided the latest updates, shedding light on failed funding efforts, the company’s dire financial situation, and attempts to restructure its debt. The email also acknowledged the gravity of the challenges ahead, hinting at the possible closure of operations.
Savage’s email outlined efforts to secure funding, including meetings with investors Fortuna and Broadlight, both of whom ultimately declined to proceed. Savage explained that while there was initial interest, the company’s mounting debt and financial instability deterred further investment. “Both [investors] have expressed interest, but despite the current circumstances and since Nov./Dec. 2024, they feel that their LPs would not stomach the numbers,” Savage wrote.
The company has previously announced it was shifting operations out of the Cape Canaveral area to a location 90 miles north where costs were less as it searched for new investors. This new report suggests this move and the search have not worked and the company will soon go out of business.
Readers!
Every February I run a fund-raising drive during my birthday month. This year I celebrate my 72nd birthday, and hope and plan to continue writing and posting on Behind the Black for as long as I am able.
I hope my readers will support this effort. As I did in my November fund-raising drive, I am offering autographed copies of my books for large donations. Donate $250 and you can have a choice of the hardback of either Genesis: the Story of Apollo 8 or Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space. Donate $200 and you can get an autographed paperback copy of either. IMPORTANT! If you donate enough to get a book, please email me separately to tell me which book you want and the address to mail it to.
Please consider supporting my work here at Behind the Black. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
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