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Moon lander company announces $20 million equity investment

Its Nova-C lander (pictured) – chosen by Nasa to deliver small commercial payloads to the lunar surface in the upcoming IM-1 mission – will return the United States to the Moon for the first time since Apollo 17 in 1972, the company highlights.

It said the proceeds will be used for general corporate purposes and working capital needs as it “ramps activity across key growth programs”.

CFO Erik Sallee said that, given the timing of milestone-based payments, the company elected “to strengthen our balance sheet defensively” as it executes new programmes.

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