Sirangelo: Fund Dream Chaser for Orbital Flights, Let Orion Fly to the Moon

Sierra Nevada Corporation's Dream Chaser - a seven-person space shuttle designed for orbital flight.

The Denver Business Journal has an interview with Mark Sirangelo, head of Sierra Nevada Corporation’s space division and chairman of the Commercial Spaceflight Federation. He argues that NASA should fund Orion for deep space exploration only while robustly funding alternatives like the Dream Chaser vehicle that his company is developing for orbital flights.

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NASA’s $50 Million Commercial Crew Investment to Fund Different Approaches

Sierra Nevada Corporation's Dream Chaser - a seven-person space shuttle designed for orbital flight.
Sierra Nevada's Dream Chaser - a space shuttle designed for orbital flight and ISS servicing.

The $50 million in contract awards that NASA announced earlier this month will fund a number of approaches to commercial human spaceflight, including a new capsule and a small space shuttle. The space agency also spread out awards between newer, entrepreneurial companies and established aerospace giants.

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Sierra Nevada Completes Acquisition of SpaceDev

PRESS RELEASE

SpaceDev, Inc. announced today that privately held Sierra Nevada Corporation (SNC) has completed the acquisition of SpaceDev by way of a merger of a wholly owned subsidiary of SNC into SpaceDev. As a result of the merger, SpaceDev is now a wholly owned subsidiary of SNC. Pursuant to the merger agreement, all shares of SpaceDev common stock outstanding at the effective time of the merger have been converted into the right to receive $0.72658 per share in cash.

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SpaceDev Reports Revenue Increase on Verge of Merger with Sierra Nevada

SPACEDEV PRESS RELEASE

SpaceDev, Inc. reported its financial results for the three and nine months ended September 30, 2008 with year to date revenues of approximately $28.3 million, an increase of over 11.6%, net income for the nine months of almost $500,000 and Adjusted EBITDA of approximately $2.1 million for the same nine month period.

“We are fortunate to have the industry’s most outstanding employees and I would like to thank them for their dedication and hard work which enabled these results,” said Mark N. Sirangelo, SpaceDev’s Chairman and Chief Executive Officer.

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SpaceDev Acquired by Sierra Nevada (the Prime Systems Integrator, Not the Beer Co.)

SpaceDev agrees to be acquired
North County Times

Private space flight pioneer SpaceDev Inc. said Monday that it has agreed to be bought for $38 million, or 68 to 72 cents per share, by Sierra Nevada Corp., a privately held company based in Sparks, Nev.

The price represents a 42 percent to 50 percent premium to the average closing price of SpaceDev stock in the previous 30 trading days.

In over-the-counter trading Monday, SpaceDev shares closed at 42 cents, up 2 cents for the day. Announcement of the sale was made after markets closed.

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