PICONE ADVISORY GROUP CLIENT ASTROCAST, SA OBTAINS STRATEGIC INVESTMENT FROM THURAYA

/in /by

LAS VEGAS, NEVADA, April 25, 2023. Picone Advisory Group, LLC is pleased to announce that its client Astrocast, SA, a leading global nanosatellite IoT network operator has reached an agreement with Thuraya Telecommunications Group for a strategic investment. The investment will be in the form of a convertible loan valued at $17.5 million.

“We are pleased that Astrocast was able to secure this strategic investment from Thuraya that will accelerate the expansion of the Astrocast IoT network” said Christopher L. Picone, President and General Counsel of Picone Advisory Group. “This strategic investment will also strengthen the ongoing collaboration between Astrocast and Thuraya.”

To view the complete Astrocast press release, please click on the following link: https://www.astrocast.com/news/astrocast-and-yahsats-mobility-arm-thuraya-strengthen-collaboration-through-a-strategic-investment-in-leo-iot/

Astrocast SA operates a leading global nanosatellite IoT network, offering services in industries such as Agriculture & Livestock, Maritime, Environment & Utilities to name a few. The Astrocast network enables companies to monitor, track, and communicate with remote assets from anywhere in the world. It relies on superior L band spectrum through a strategic alliance with Thuraya. In partnership with Airbus, CEA/LETI and ESA, Astrocast developed Astronode S, an ultra low power and miniaturised module compatible with inexpensive L band patch antennas. Founded in 2014 by a renowned team of experts, Astrocast develops and tests all its products in house, from the satellites to the modules. Astrocast is listed on Euronext Growth Oslo under the symbol ASTRO.

For more information on Astrocast, please contact Kjell Karlsen, Chief Financial Officer at kkarlsen@astrocast.com. Picone Advisory Group provides consulting services to an international client base in a wide variety of industry settings including: financial services, professional services, manufacturing, aerospace, building and construction, food and food service, homeland security and first response, healthcare, energy, real estate, wholesale and retail services, technology, telecommunications, and transportation.

###

For more information, please contact Christopher L. Picone at CPicone@PiconeAdvisoryGroup.com or call (773)936-6626.