The $56.7-million deal with Celestial Acquisition Corp. will see the U.S.-centred spinout from Nokia Bell Labs, called Modul8, listed on the TSX Venture Exchange as an Ontario company. Celestial is a capital-pool company whose purpose is to find a business to take public. The new board is to be chaired by Kevin Ford, the recently retired CEO of Calian, and include former astronaut Chris Hadfield and ex-Conservative leader Erin O’Toole. (The Logic)

Talking point: Modul8’s focus is space-based 5G and Wi-Fi technology, to replace traditional radio communications with digital broadband. It tested a 4G network on the moon during a private lunar mission last year, though its prospectus says the technology can work on satellites and space stations and be augmented by laser-based communications. Though the company is to be headquartered in Canada, all its operations are currently in the U.S.—Texas, specifically—and much of the business will likely stay there, the prospectus says.