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Capital

Halo Industries gets $75 million conditional Pentagon loan commitment for silicon carbide wafers

The Office of Strategic Capital says its financing would help the laser-based wafer producer approach cost parity with foreign competitors.

The Department of War’s Office of Strategic Capital (OSC) announced a $75 million conditional loan commitment to Halo Industries to expand production of silicon carbide (SiC) semiconductor wafers. OSC says the investment brings in an additional $75 million in private capital and supports Halo’s domestic manufacturing expansion.1

OSC announced a $75 million conditional loan commitment with Halo Industries

Halo's domestic manufacturing expansion

Halo Industries$75 million conditional loan commitmentcontingent

to scale production of SiC wafers

before financial closeadditional steps Halo must completecontingent

satisfying various financial, legal, technical, investment, due diligence, and other requirements

Source: Department of War, Office of Strategic Capital (OSC). As of November 5, 2026.

Sources
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The office expects its conditional financing to help Halo expand U.S. manufacturing and approach cost parity with foreign competitors. OSC says heavy state subsidies to foreign competitors have pressured domestic SiC wafer producers and increased reliance on overseas supply.1

Halo uses lasers to slice SiC ingots into wafers in place of mechanical diamond saws. OSC says the process reduces material waste, improves throughput up to tenfold and lowers production costs.1

The loan commitment still requires Halo to satisfy financial, legal, technical, investment, due diligence and other requirements before financial close.1

OSC says Halo’s Santa Clara, California, operations would onshore production of components vital to high-voltage defense applications, including advanced radar, electronic warfare, hypersonics and directed energy weapons. The office expects the manufacturing expansion to reduce reliance on foreign semiconductor materials.1

Sources (1)
  1. Department of War: Office of Strategic Capital Signs $75 Million Conditional Loan Commitment With Halo Industries, Inc. www.war.gov
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Capital

CesiumAstro closes $730 million round to support its own planned satellite constellation

The space communications supplier plans a 737-satellite constellation that would take it into operating its own infrastructure. Janus Henderson led the equity round.

CesiumAstro announced Nov. 5 that it closed $730 million in Series D financing. The round valued the company at more than $4.5 billion.1

CesiumAstro raises capital to support its planned satellite constellation

Series D financing and Synchronicity plans, announced Nov. 5, 2026

$730MClosed Series D financing
737 satellitesPlanned Synchronicity constellation

CesiumAstro says the capital will support Synchronicity deployment alongside technologies, manufacturing expansion, spacecraft development and international growth.

Source: CesiumAstro, Nov. 5, 2026. As of Nov. 6, 2026.

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Synchronicity would extend CesiumAstro's business from supplying space technologies and complete spacecraft to developing and operating its own space infrastructure. The planned 737-satellite constellation is intended for commercial, sovereign and defense missions.1

Janus Henderson led the equity round, with participants including Insight Partners, Sands Capital and Magnetar. The announcement also lists $100 million in debt financing through the Export-Import Bank of the United States and JPMorgan, without specifying whether that amount is included in the $730 million.1

CesiumAstro acquired Jariet Technologies, 1Aardvark and Vidrovr in the past 12 months, bringing together semiconductor, mission software and artificial intelligence capabilities.1

The company says the capital will support Synchronicity deployment alongside advanced technologies, U.S. manufacturing expansion, spacecraft development and international growth. It also announced a $500 million investment over five years to expand its Austin headquarters, including advanced manufacturing space.1

Sources (1)
  1. CesiumAstro, "CesiumAstro Secures $730 Million in Janus Henderson-Led Series D at a Valuation Above $4.5 Billion; Unveils Synchronicity Satellite Constellation Following Fully Successful Element-1 Mission," Nov. 5, 2026 cesiumastro.com
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Capital · Drones

Axon targets larger Skydio stake with $1.2 billion investment

Axon will also become the drone maker’s exclusive public safety distributor in the U.S. and Canada.

Axon announced a roughly $1.2 billion minority investment in Skydio on Nov. 5, 2026. It expects its ownership to reach about 37% on a fully diluted basis.1

Axon announced an incremental minority investment of about $1.2 billion in Skydio

Nov. 5, 2026

minority investmentabout $1.2 billionplanned

expected to raise its fully diluted ownership from about 15% (as of Sept. 30, 2026) to about 37%

public safetyU.S. and Canadaplanned

Axon will also become Skydio's exclusive distributor for public safety in the U.S. and Canada.

Axon expects the remaining transactions to close in Q4 2026 and Q1 2027, subject to customary closing conditions

Source: Axon Form 8-K and Exhibit 99.1, Nov. 5, 2026. Data as of Nov. 6, 2026.

Sources
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The investment would pair a larger minority stake with an exclusive public safety sales channel in the U.S. and Canada.1–2 The deal builds on a partnership already bringing Skydio drones to public safety agencies across the U.S. Axon describes it as an expansion of its Drone as First Responder program.2

The initial purchase closed on Nov. 5. Axon expects the remaining transactions to close during the fourth quarter of 2026 and first quarter of 2027, subject to customary closing conditions.1

The investment combines capital for Skydio with purchases from existing shareholders.2 The initial purchase of about $254.9 million in non-voting Series G preferred shares was made directly with Skydio.1 Part of the cash consideration is intended to fund innovation and product expansion at Skydio, Axon says.2

Sources (2)
  1. Axon Form 8-K, Nov. 5, 2026 www.sec.gov
  2. Exhibit 99.1, Axon press release, Nov. 5, 2026 www.sec.gov
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