Filtronic plc (LON:FTC), a leading provider of high-performance RF, microwave, and mmWave components and subsystems for the defence and space markets, has announced a significant development in its strategic partnership with SpaceX. The partnership has been expanded to enable an increased allocation of business to Filtronic, deepening the collaboration between the two companies.
Building upon the initial agreement signed in April 2024, this enhanced partnership reflects SpaceX’s continued confidence in Filtronic’s cutting-edge technology and engineering expertise. As part of this agreement, Filtronic will increase its supply of advanced E-band SSPA modules to support the ongoing deployment of SpaceX’s Starlink constellation, which provides high-speed, low-latency internet to users worldwide.
In recognition of the increased business levels, the Company has issued a total of 10,949,079 warrants to SpaceX at an exercise price of 92.8 pence, which enables SpaceX to subscribe for up to a maximum of 5% of the Company’s existing share capital, with such warrants expected to vest, on a variable basis, based on the receipt of irrevocable purchase orders.
The warrants are being issued utilising the existing shareholder authorities granted at the Annual General Meeting of the Company held in October 2024.
Nat Edington, Chief Executive Officer, of Filtronic commented: “We are delighted to enter this important new phase of our strategic partnership with SpaceX. 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. 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.”
