- On June 28, 2022, SatixFy, supported by the UK Space Agency
(“UKSA”) and the European Space Agency (“ESA”), using the OneWeb
constellation, successfully demonstrated a high-speed low-latency
5G-enabled link with a LEO satellite via its fully electronically
steered multi-beam multi-orbit antenna terminal
- SpaceX / T-Mobile, Thales / Ericsson /Qualcomm, and Huawei are
among key companies announcing direct-to-cell satellite enabled 5G
services in recent weeks
- We believe SatixFy’s proprietary chip technology is well-suited
to adaptation to the expected requirements of 5G telecommunications
satellites
SatixFy Communications Ltd. (“SatixFy”), a leader in
next-generation satellite communication systems based on in-house
developed chipsets, ahead of the 73rd International Astronautical
Congress 2022, is highlighting the potential for its technology to
play a key role in the development of direct-to-cell satellite 5G
services. This is a rapidly emerging area of satellite
communications in which SatixFy believes it can play an important
role in moving the technology forward in the coming years.
Last month SpaceX announced a partnership with T-Mobile to
provide basic text service across parts of the U.S. where
terrestrial service is not available. In July, Thales, Ericsson and
Qualcomm announced a partnership to develop 5G non-terrestrial
networks using low-Earth orbit (“LEO”) satellites. In addition,
last week Huawei announced its first handset with satellite
capability, the Mate 50 series, which can send text messages using
satellites. While these offerings provide basic direct-to-cell
satellite service for text messaging services, full-scale voice and
data services desired by consumers that are expected to follow will
require the use of advanced chip technologies to address current
limitations.
Specific challenges in delivering the higher levels of service
include 1) the requirement of large antennas in space with high
directivity to both capture the small signal emitted by a cell
phone and provide a sizeable coverage area, 2) the need for a large
number of pointing beams for antennas to service many devices, and
3) the requirement of large constellations of LEO satellites to
provide global coverage to cellular users. For example, new LEO
constellations, like the SpaceX Gen 2 Starlink satellites, utilize
large antennas and will require a large number of satellites to
provide global coverage.
SatixFy’s technologies can change the game from both a
performance and cost perspective. SatixFy’s 2nd generation Digital
Beamforming ASIC Prime 2.0 utilizes “True Time Delay” technology
and has a modular and scalable architecture that enables building
large antenna arrays in different frequency bands spanning from
L-band to Ka-band. Additionally, the Prime2 ASIC supports a large
capacity (up to 8GHz, which can be further aggregated to expand to
64GHz) with up to 128 dual polarized beams all of which allow a
large number of devices to be serviced by a single antenna. The
beams can be configured dynamically in a very short time to support
beam hopping that further optimizes the utilization of satellite
resources to support a large number of devices on the ground. Prime
2.0 will deliver all these features at a very low DC power.
These technologies are not theoretical. On June 28, 2022,
SatixFy played a key role in demonstrating a high-speed,
low-latency link with a LEO satellite constellation incorporating
5G. The demonstration at the ESA/ECSAT facilities in Harwell, UK,
using a compact electronic antenna powered by SatixFy to connect to
a LEO satellite constellation operated by OneWeb, achieved the
world’s first ever 5G backhaul communications connected to a LEO
satellite constellation. That demonstration showcased the validity
of the integration of space and ground networks using 5G links, and
direct-to-cell is one of the applications that could utilize this
technology in the future.
“SatixFy’s space-grade Prime 2.0 will enable low power-usage and
cost-effective wideband large Electronically Steered antennas with
high aperture efficiency for space applications such as
direct-to-cell to deliver broadband directly to handheld cellular
devices,” said SatixFy CEO David Ripstein. “We expect to play a key
role in enabling the 5G satellite technologies of the future and
expect this will become another strong market segment for SatixFy
over time.”
On March 8, 2022, SatixFy announced that it had entered into a
definitive business combination agreement with Endurance
Acquisition Corp. (NASDAQ: EDNC), a publicly-traded special purpose
acquisition company (SPAC) formed by an affiliate of Antarctica
Capital, an international private equity firm. Upon closing of the
transaction, SatixFy’s shares are expected to trade on the New York
Stock Exchange under the ticker symbol “SATX.”
About SatixFy
SatixFy develops end-to-end next-generation satellite
communications systems, including satellite payloads, user
terminals and modems, based on powerful chipsets that it develops
in house.
SatixFy’s products include modems that feature Software
Defined Radio (SDR) and Fully Electronically Steered Multi Beam
Antennas (ESMA) that support the advanced communications
standard DVB-S2X. SatixFy’s innovative ASICs improve the
overall performance of satellite communications systems, reduce the
weight and power requirements of terminals and payloads, and save
real estate for gateway equipment. SatixFy’s advanced VSATs and
multi-beam fully electronically steered antenna arrays are
optimized for a variety of mobile applications and services, using
LEO, MEO and GEO satellite communications systems, for
aero/in-flight connectivity systems, communications-on-the-move
applications, satellite-enabled Internet-of-Things, and consumer
user terminals.
SatixFy is headquartered in Rehovot, Israel with additional
offices in the US, UK and Bulgaria. For more information, please
refer to www.SatixFy.com.
About Endurance Acquisition Corp.
Endurance Acquisition Corp. (“Endurance”) is a special purpose
acquisition company formed by an affiliate of Antarctica Capital,
an international private equity firm, for the purpose of effecting
a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination with one
or more businesses. Endurance was founded on April 23, 2021 and is
headquartered in New York, NY.
Important Information About the Proposed Transaction and
Where to Find It
The proposed business combination will be submitted to
shareholders of Endurance for their consideration. SatixFy has
filed a registration statement on Form F-4 (the “Registration
Statement”) with the SEC which includes a preliminary and
definitive proxy statements to be distributed to Endurance’s
shareholders in connection with Endurance’s solicitation for
proxies for the vote by Endurance’s shareholders in connection with
the proposed business combination and other matters as described in
the Registration Statement, as well as the prospectus relating to
the offer of the securities to be issued to SatixFy’s and
Endurance’s shareholders in connection with the completion of the
proposed business combination. After the Registration Statement has
been filed and declared effective, Endurance will mail a definitive
proxy statement and other relevant documents to its shareholders as
of the record date established for voting on the proposed business
combination. Endurance’s shareholders and other interested persons
are advised to read, once available, the preliminary proxy
statement/prospectus and any amendments thereto and, once
available, the definitive proxy statement/prospectus, in connection
with Endurance’s solicitation of proxies for its extraordinary
general meeting of shareholders to be held to approve, among other
things, the proposed business combination, because these documents
will contain important information about Endurance, SatixFy and the
proposed business combination. Shareholders may also obtain a copy
of the preliminary or definitive proxy statement, once available,
as well as other documents filed with the SEC regarding the
proposed business combination and other documents filed with the
SEC by Endurance, without charge, at the SEC's website located at
www.sec.gov or by directing a request to Endurance Acquisition
Corp., 630 Fifth Avenue, 20th Floor, New York, NY 10111.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY
AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS
OF THE PROPOSED TRANSACTION PURSUANT TO WHICH ANY SECURITIES ARE TO
BE OFFERED OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED
HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“estimate,” “plan,” “project,” “forecast,” “intend,” “will,”
“expect,” “anticipate,” “believe,” “seek,” “target” or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of SatixFy’s and Endurance’s management and are not predictions of
actual performance. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as,
and must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of SatixFy and
Endurance. These forward-looking statements are subject to a number
of risks and uncertainties, including the risk that SatixFy and its
current and future collaborators are unable to successfully develop
and commercialize SatixFy’s products or technologies, including the
compact electronically steered multi-beam array designed for
mobility services, or experience significant delays in doing so;
the ability for SatixFy or its collaborators to obtain the
necessary approvals and certifications for SatixFy’s products and
technologies; the ability for SatixFy or its collaborators to
achieve milestones under the ESA Sunrise Partnership Project;
potential design flaws or performance issues in SatixFy’s products
and technologies that may not be discovered or discoverable during
product trials and demonstrations; the occurrence of any event,
change or other circumstances that could give rise to the
termination of the proposed business combination; the outcome of
any legal proceedings that may be instituted against SatixFy or
Endurance, the combined company or others following the
announcement of the proposed business combination; the inability to
complete the proposed business combination due to the failure to
obtain approval of the shareholders of SatixFy or Endurance or to
satisfy other conditions to closing; changes to the proposed
structure of the proposed business combination that may be required
or appropriate as a result of applicable laws or regulations or as
a condition to obtaining regulatory approval of the proposed
business combination; the ability to meet stock exchange listing
standards following the consummation of the proposed business
combination; the risk that the proposed business combination
disrupts current plans and operations of SatixFy as a result of the
announcement and consummation of the proposed business combination;
the ability to recognize the anticipated benefits of the proposed
business combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and retain
its management and key employees and the execution of the CEO
transition plan; costs related to the proposed business
combination; changes in applicable laws or regulations; SatixFy’s
estimates of expenses and profitability and underlying assumptions
with respect to shareholder redemptions and purchase price and
other adjustments; any downturn or volatility in economic
conditions; the effects of COVID-19 or other epidemics; changes in
the competitive environment affecting SatixFy or its customers,
including SatixFy’s inability to introduce new products or
technologies; the impact of pricing pressure and erosion; supply
chain risks; risks to SatixFy’s ability to protect its intellectual
property and avoid infringement by others, or claims of
infringement against SatixFy; the possibility that SatixFy or
Endurance may be adversely affected by other economic, business
and/or competitive factors; SatixFy's estimates of its financial
performance; risks related to the fact that SatixFy is incorporated
in Israel and governed by Israeli law; and those factors discussed
in Endurance’s final prospectus dated September 14, 2021 and Annual
Report on Form 10-K for the fiscal year ended December 31, 2021, in
each case, under the heading “Risk Factors,” and other documents of
Endurance filed, or to be filed, with the SEC. If any of these
risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
neither SatixFy nor Endurance presently know or that SatixFy and
Endurance currently believe are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect SatixFy’s and Endurance’s expectations, plans or forecasts
of future events and views as of the date of this press release.
SatixFy and Endurance anticipate that subsequent events and
developments will cause SatixFy’s and Endurance’s assessments to
change. However, while SatixFy and Endurance may elect to update
these forward-looking statements at some point in the future,
SatixFy and Endurance specifically disclaim any obligation to do
so. These forward-looking statements should not be relied upon as
representing SatixFy’s and Endurance’s assessments as of any date
subsequent to the date of this press release. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
No Offer or Solicitation
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Participants in Solicitation
Endurance, SatixFy and certain of their respective directors,
executive officers and other members of management and employees
may, under SEC rules, be deemed to be participants in the
solicitations of proxies from Endurance’s shareholders in
connection with the proposed business combination. Information
regarding the persons who may, under SEC rules, be deemed
participants in the solicitation of Endurance’s shareholders in
connection with the proposed business combination will be set forth
in Endurance’s proxy statement / prospectus when it is filed with
the SEC. You can find more information about Endurance’s directors
and executive officers in Endurance’s final prospectus dated
September 14, 2021 and Annual Report on Form 10-K for the fiscal
year ended December 31, 2021. Additional information regarding the
participants in the proxy solicitation and a description of their
direct and indirect interests will be included in the proxy
statement / prospectus when it becomes available. Shareholders,
potential investors and other interested persons should read the
proxy statement / prospectus carefully when it becomes available
before making any voting or investment decisions. You may obtain
free copies of these documents from the sources indicated
above.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220913005543/en/
Investor: Kevin Hunt, ICR, SatixFyIR@icrinc.com
Media: Helena Itzhak, Satixfy, Helena.itzhak@satixfy.com Brian
Ruby, ICR, SatixFyPR@icrinc.com
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