Tag: Heinlein Trust

Bankrupt Sea Launch Gets More Financing – Heinlein Prize Trust Involved

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Mystery Group Invests More in Bankrupt Sea Launch
Space News

Commercial launch-services provider Sea Launch Co., which has been in Chapter 11 bankruptcy proceedings since June, on Feb. 25 received $3 million in cash from the same group of investors that provided an initial tranche of financing to keep the company in operation, according to documents filed with the Delaware Bankruptcy Court.

Further payments totaling $9 million will be distributed in three monthly increments starting in March on condition that Long Beach, Calif.-based Sea Launch begins to secure commercial launch contracts, according to court documents…

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