Hudson Space Systems

Hudson Space Systems

Microgravity research services company with one provisional patent application filed

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Security Type
Convertible Note
Min Investment
$100
Location
Hoboken, NJ
Offering Date
August 31, 2020
Expected Close Date
March 01, 2021
Target Raise
$25.00K-$250.00K
Deal Notes

Discount: 20%

In connection with equity financing of at least $1 million, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $3 million or $3.8 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Company Description

Founded in August 2019, Hudson Space Systems is an aerospace company looking to make microgravity services more accessible. The company was founded by four Stevens Institute of Technology graduate students, all with a deep enthusiasm for space, who aim to provide microgravity services for researchers at universities, companies, and governments.

Looking ahead, Hudson Space Systems wants to create affordable access to a launch environment that enables customers to flexibly perform microgravity research based on whatever their requirements may be.

Key Deal Facts

Developing reusable space launch vehicles to make microgravity services accessible to a broad spectrum of customers
Filed a private provisional patent application, “Unibody Liquid Bipropellant Rocket Engine,” in February 2020
Received a grant from Stevens Institute of Technology for its rocket launch technology
Raised $100,000 in funding from an angel investor in 2020

Use of Proceeds

  • Future Wages
  • Research and Development
  • Equipment Purchases
  • Manufacturing
  • Intermediary Fees

Management Team / Advisory Board Bios

Nathan Tahbaz
CEO
Nathan is a space nerd with experience in management, systems, rapid prototyping, manufacturing, and project management. He has a bachelor’s degree in Mechanical Engineering and a master’s degree in Space Systems Engineering from Stevens Institute of Technology.

Monica Traupmann
COO
Monica is an explosions enthusiast with experience in propulsion design, fuel delivery systems, and instrumentation, as well as fundraising and crowdfunding for small-scale projects. She has a bachelor’s degree in Chemical Engineering and a master’s degree in Mechanical Engineering with a focus on Energy, Fluids, and Heat Transfer.

Will Skwirut
CTO
Will’s background includes designing, manufacturing, and testing fluid control components and systems. He also has experience in numerical analysis, rapid prototyping, computational fluid dynamics, and finite element analysis. Will has a bachelor’s and master’s degree in Mechanical Engineering from Stevens Institute of Technology, specializing in Fluids, Thermal, and Energy.

Dakota Van Deursen
CFO
Dakota is passionate about learning how complex systems work together—both physically and socially. He weaves experience with STEM in the workplace into his personal history in peer management and governing bodies. He has a bachelor’s degree in Chemical Engineering and a master’s degree in Materials Science and Engineering from Stevens Institute of Technology.

Ben Iofel
CIO
Ben is a computer nerd with experience in software development, embedded programming, and Linux. He is a software engineer at Flow and aims to bring that culture and experience to Hudson Space Systems. He has a bachelor’s degree in Computer Science from Stevens Institute of Technology.

Deal Notes

Discount: 20%

In connection with equity financing of at least $1 million, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $3 million or $3.8 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Amount Raised : $190,300
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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