Aidan Daly
Investment firm Leonid Capital Partners has announced extending a new $20 million term loan to satellite vehicle maker ABL Space Systems.
In a press release Wednesday, James Parker, co-founder of Leonid Capital Partners, said, “ABL Space Systems is doing groundbreaking work to increase domestic launch resiliency and build out ‘responsive launch’ capabilities for the Department of Defense.”
“Our business is growing rapidly and this term loan will enable us to continue to make the investments necessary to expand our infrastructure and capacity to execute on current and future contracts,” said Harry O’Hanley, CEO of ABL Space Systems. He adds that Leonid understands the space industry and recognizes the value of developing and strengthening space launch capabilities.
Leonid provides businesses dealing with the federal government with government contract loans and government contracts of lines of credit. The credit extension to ABL Space Systems is one of several financing arrangements Leonid has done this year.
