Maritime Launch Services raised just under $1.6 million by selling new shares and paid $500,000 (and more new shares) to lenders in partial exchange for extending the maturity dates of two sets of convertible debentures until December 2026. The company broke ground in 2022 on a commercial spaceport site in Canso, N.S., and intends to launch its first vehicle into orbit next year. (The Logic)

Talking point: Maritime Launch Services’ plans have suffered setbacks—not least when Russia struck its Ukrainian rocket supplier—and had once planned for its first orbital launch to be in 2024. Some of the new equity raise was spent earlier, after existing shareholders advanced the company $331,525 in interest-free loans, and company officers and directors are taking some back pay in yet more shares, according to the announcement.