Overview
- The company filed a notice of intention to appoint administrators after an unsuccessful Series D round and failed merger or acquisition talks.
- Orbex says it was on the cusp of first test launches for its Prime small rocket later this year, a timeline now in doubt.
- Operations continue while options are assessed, including selling all or parts of the business and its assets.
- About 163 jobs, most based in Forres, Moray, are at risk as the company seeks a path forward.
- Rival Skyrora is exploring the purchase of select Orbex assets, potentially investing up to £10 million subject to due diligence, and SaxaVord Spaceport expects little operational impact since Orbex had not begun on-site work.