TORONTO, Oct. 18, 2021 /CNW/ - Stack Capital Group Inc.
("Stack Capital") (TSX: STCK) (TSX: STCK.WT) is pleased to announce
that it has invested $5 million USD
indirectly into Space Exploration Technologies Corp. ("SpaceX"),
the world's largest aerospace manufacturer, space transportation
services and communications company.
Led by world-renowned entrepreneur Elon
Musk, SpaceX recently completed a historic, all-civilian
mission where it safely returned its Crew Dragon spacecraft from
orbit, carrying four members of the Inspiration4 mission back to
Earth after three days in Space. Overall, SpaceX is in the
leadership position when it comes to the emerging "space economy"
and has the potential to eventually create an economic and
technological flywheel. Its core businesses include space
transportation (satellites, people, instruments, and cargo),
Starlink, and the future potential associated with space
tourism. Starlink provides internet access to most of the
Earth through over 1800 satellites as of mid-2021, with plans to
add thousands of additional satellites in low earth orbit.
"This indirect investment in SpaceX fits perfectly with Stack
Capital's mandate of providing shareholders with access into
innovative and disruptive private companies", said Jeff Parks, CEO of Stack Capital. "Through
Stack Capital, any investor can now participate in the future
growth of this world-class business. We're extremely excited about
the prospects for Starlink which is well positioned to solve an
internet connectivity problem for millions of consumers
worldwide."
To access Stack's investment overview on SpaceX, along with any
of its other portfolio investments, please click here.
About Stack Capital
Stack Capital is an investment holding company and its business
objective is to invest in equity, debt and/or other securities of
growth-to-late-stage private businesses. SC Partners Ltd. (the
"Manager") has taken the initiative in creating the Company and
acts as the Company's administrator and is responsible to source
and advise with respect to all investments for the Company.
SOURCE Stack Capital Group Inc.