Maritime Launch Services Debuts on NEO Stock Exchange, But Will They Have a Rocket to Fly?

Cyclone 4M

by Douglas Messier
Managing Editor

Maritime Launch Services has debuted on the NEO Exchange, become the latest space company to go public on a stock exchange without any revenues (losses, actually) while avoiding the “rigmarole” (Richard Branson’s words, not mine) associated with a traditional initial public offering (IPO).

In addition to a lack of revenues and a crowded launcher market, there’s another question hanging over the company that nobody can answer right now: exactly what are they going to launch from the spaceport they’re building in Nova Scotia? The Cyclone 4M booster they plan to use is built in Ukraine, which has been invaded by Russia.

There’s no indication that the Ukrainian companies that build the rockets has been destroyed in the fighting. It’s just not clear who will ultimately control the facilities and when shipments of its products will resume.

Maritime made no mention of the Ukraine situation in its upbeat announcement about its NEO Exchange listing.

“Our NEO listing is a key building block to our to plans to acquire a share of the massive commercial space industry market. Like NEO, we are driven to meeting the needs of our clients with unwavering dedication to delivering exceptional service,” said Stephen Matier, President and CEO of Maritime Launch. “Following the record-setting investment in the space market in 2021, we expect the industry to continue on its growth trajectory over the years to come. As a launch service provider, Maritime Launch aims to serve as a part of the backbone to the entire industry and will be a model for the commercial space sector. Today’s listing means Maritime Launch will have greater access to a diverse mix of equity investors and financing partners as we develop Spaceport Nova Scotia and attract and retain great talent.”

Maritime isn’t the only Western company affected. For example, upper stages for Arianespace’s Vega booster and the first stages of Northrop Grumman’s Antares boosters are built in Europe. Both companies have received received deliveries that will allow them to continue conducting missions for a period of time. Arianespace is looking for an alternative upper stage while Northrop Grumman is seeking other rides for the Cygnus resupply ships it launches to the International Space Station.

Maritime’s press release is below.

TORONTO, April 27, 2022–(BUSINESS WIRE)–NEO is proud to welcome Maritime Launch Services Inc. (“Maritime Launch” or the “Company”), a Canadian-owned commercial space company, as they list today on the NEO Exchange. Maritime Launch is now available for trading on NEO under the symbol MAXQ.

Maritime Launch is building a Spaceport in Nova Scotia, which is positioned to become a world-class commercial launch complex. The first of its kind in Canada, Spaceport Nova Scotia will be the only pure play, commercially operated launch site in North America. Led by Stephen Matier, a mechanical engineer, former NASA contractor engineering manager, and entrepreneur, Maritime Launch aims to offer state-of-the-art, low technical risk launch alternatives for placing global client satellites into low Earth orbit, at competitive prices.

“Our NEO listing is a key building block to our to plans to acquire a share of the massive commercial space industry market. Like NEO, we are driven to meeting the needs of our clients with unwavering dedication to delivering exceptional service,” commented Stephen Matier, President and CEO of Maritime Launch. “Following the record-setting investment in the space market in 2021, we expect the industry to continue on its growth trajectory over the years to come. As a launch service provider, Maritime Launch aims to serve as a part of the backbone to the entire industry and will be a model for the commercial space sector. Today’s listing means Maritime Launch will have greater access to a diverse mix of equity investors and financing partners as we develop Spaceport Nova Scotia and attract and retain great talent.”

Investors can trade shares of Maritime Launch (MAXQ) through their usual investment channels, including discount brokerage platforms and full-service dealers.

“Today’s debut of Maritime Launch on NEO marks the beginning of a true partnership between innovators who are ushering in a tech-centric future where even the sky is not the limit,” remarked Jos Schmitt, President and CEO of the NEO Exchange. “This is also the first space-related corporate listing on NEO, which has become the definitive venue of choice for groundbreaking companies in the innovation economy. Under the leadership of a seasoned team of industry veterans, the Company is uniquely prepared for the challenge of disrupting the global launch market. And by listing on NEO, Maritime Launch stands to benefit from greater exposure to the investor community, enhanced access to capital and liquidity, and the exceptional level of service which sets NEO apart from the rest.”

The NEO Exchange is home to over 225 unique listings, including some of the most innovative Canadian and international growth companies, and ETFs from Canada’s largest ETF issuers. NEO consistently facilitates between 10% and 15% of all Canadian trading volume. Click here for a complete view of all NEO-listed securities.

About the NEO Exchange

The NEO Exchange is Canada’s Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading across all Canadian-listed securities on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.