Viasat Picks Rocket Lab to Build a Protected Tactical Satellite, L3Harris Ousts Kubasik Over a Conduct Violation, Telesat Braces for a $1.7B December Debt Wall

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The briefing

Rocket Lab consolidated its position as a national-security space prime on Monday. Viasat selected the company to deliver Lightning-GEO, a geostationary orbit (GEO) configuration of its Lightning satellite bus, hosting Viasat's dual-band X/Ka payload under Swarm 1 of the Space Force's Protected Tactical SATCOM-Global program, a maneuverable, anti-jam spacecraft tied to Viasat's May prime award. Space Systems Command separately onboarded Rocket Lab to the $981 million NITE-STAR vehicle for space test and training infrastructure, alongside fourteen other firms. Together the awards extend Rocket Lab's push from launch into resilient GEO communications and into the Space Force's contested-operations test enterprise.

MDA Space delivered its first complete commercial communications satellites to orbit on Saturday night when eight Globalstar replenishment spacecraft launched from Cape Canaveral at 9:12 p.m. ET aboard a Falcon 9. All eight are under Globalstar's command and performing normally, with nine more to follow under MDA's role as prime contractor on the 17-satellite order; the buses came from Rocket Lab's Long Beach plant under a 2022 subcontract. NASA separately awarded Spacecraft Processing Operations Contract slots for payload processing at Vandenberg, adding Firefly Aerospace to a pool with a $100 million ceiling through February 2033.

The stress point sits at Telesat, which confirmed it is pursuing good-faith negotiations with bondholders who hold $1.7 billion of debt maturing in December and have sued in New York and Ontario to reverse a 2025 transfer of funds from Telesat to its Lightspeed low Earth orbit (LEO) subsidiary. At L3Harris, the board named Sam Mehta president and CEO after removing Christopher Kubasik over a code-of-conduct violation unrelated to financials, elevating the executive who had run more than 80% of L3Harris revenue across Space & Mission Systems and Communications & Spectrum Dominance.

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The headlines

Viasat picks Rocket Lab to build PTS-G mini-GEO satellite bus

RKLB VSAT

Viasat selected Rocket Lab to deliver a Lightning-GEO spacecraft bus hosting Viasat's dual-band X/Ka payload for Swarm 1 of the U.S. Space Force's Protected Tactical SATCOM-Global program, following Viasat's May 22 prime award. The maneuverable, anti-jam mini-GEO satellite includes Rocket Lab's vertically integrated TT&C radios, star trackers, reaction wheels and flight software, with Viasat providing five years of operations and sustainment. It moves PTS-G from design into production and gives Rocket Lab a foothold in the Space Force's resilient GEO SATCOM architecture.

MDA Space books its first commercial constellation as prime as Globalstar takes command

SpaceX MDA

Globalstar confirmed that all eight replenishment spacecraft launched Saturday from Cape Canaveral reached their intended orbit, are under command and control and are performing normally, with commissioning underway. It is the first commercial constellation MDA Space has delivered as prime contractor, a role it has held since a 2022 order covering all 17 satellites; the buses were built by Rocket Lab in Long Beach under subcontract. Nine more spacecraft remain to be delivered.

Rocket Lab onboarded to $981M Space Force NITE-STAR contract

RKLB

Space Systems Command added Rocket Lab to the NITE-STAR IDIQ vehicle, an advanced space test and training infrastructure program with a $981 million ceiling. Rocket Lab is now eligible to compete for task orders covering space-based system development and integration, ground systems, digital environments and sustainment, aimed at preparing space operators for contested scenarios. The onramp builds on Rocket Lab's existing satellite, mission operations and space software work for national security customers.

Telesat pursues talks with bondholders as $1.7B maturity nears

TSAT

Telesat said it is pursuing good-faith negotiations with bondholders who have filed suit in New York and Ontario to force it to reverse a 2025 transfer of funds from the parent company to its Telesat LEO subsidiary. The bondholders hold $1.7 billion of Telesat debt coming due in December and allege the transfer sacrificed the GEO business and its creditors to preserve the Lightspeed LEO constellation. The dispute puts the operator's capital structure and Lightspeed funding runway in direct conflict.

L3Harris names Sam Mehta CEO after Kubasik ouster

LHX

L3Harris removed Christopher Kubasik as chairman, CEO and director after a board investigation found conduct inconsistent with the company's code of conduct, unrelated to financial reporting, controls, customer relationships or operational performance. The board named Sam Mehta, who had led Space & Mission Systems and Communications & Spectrum Dominance, president and CEO with base salary of $1.25 million, a 200% target cash bonus and a $13.25 million long-term incentive target. Lewis Hay III becomes independent chairman; Lauren Barnes and Christopher Aebli step up to run SMS and CSD.

NASA adds Firefly and three others to Spacecraft Processing Operations Contract

FLY

NASA selected four companies, including Firefly Aerospace, to provide payload processing facilities under the Spacecraft Processing Operations Contract on-ramp, a multiple-award, firm-fixed-price IDIQ with a $100 million aggregate ceiling and an ordering period through February 1, 2033. Firefly said the award positions it to bid on task orders using its Payload Processing Facility near Space Launch Complex 2 at Vandenberg. The award targets bottlenecks in West Coast payload processing for NASA missions launching from Vandenberg.

[ 03 / +24 / -21 ]

Market pulse

Archived snapshot from this edition. Prices and moves are not live.

Gainers+24

Decliners-21

Big mover SATL-4.2%

Asset	Snapshot	Move
ATROAstronics	$77.51	+4.0%
GLWCorning	$152.78	+3.8%
RBCRBC Bearings	$513.95	+3.6%
SATLSatellogic	$5.13	-4.2%
ASTSAST SpaceMobile	$59.88	-3.4%
LUNRIntuitive Machines	$16.11	-3.0%

[ 04 / 4 in window ]

Filings

8-K

L3Harris Technologies, Inc. · 8-K

2026-08-17 · L3Harris disclosed the immediate appointment of Sam Mehta as president and CEO and the separation of Christopher Kubasik under an August 16 separation agreement, alongside board and segment leadership changes.

6-K

Gilat Satellite Networks Ltd. · 6-K

2026-08-17 · Gilat Satellite Networks reported that its Peruvian subsidiary signed a $14 million agreement with the Regional Government of Ayacucho to deploy more than 1,060 kilometers of fiber-optic broadband serving 273 public institutions, with delivery expected within 18 months.

Form 4

Hexcel Corporation · Form 4

2026-08-17 · Hexcel Corporation filed a Form 4 ownership update: Gina Fitzsimons (See Remarks) reported 9,675 shares acquired and 19,350 shares disposed at $44.90-$103.15 (0 options after). These filings are routine insider-ownership disclosures, not operating updates.

Form 4

Globalstar, Inc. · Form 4

2026-08-17 · Globalstar, Inc. filed a Form 4 ownership update: Rebecca Clary (VP & Chief Financial Officer) sold 24,100 shares at $82.17 (96,540 shares after). These filings are routine insider-ownership disclosures, not operating updates.

[ End of Issue 057 ]

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