On April 16, 2026, Celestial Acquisition Corp., a space technology-focused capital pool company, entered into a definitive agreement in respect of a proposed qualifying transaction involving the spin-out acquisition of Nokia’s Space Communication Solutions business, to operate as “Modul8 Corporation” following closing.

The transaction is expected to be completed by way of a reverse takeover of Celestial and will include the acquisition of certain intellectual property, operating assets and business operations from Nokia group entities, positioning Modul8 as an independent, publicly listed space communications platform.

In connection with the transaction, Scotia Capital Inc. (Scotiabank) has been engaged as lead agent, on behalf of a syndicate of agents, to undertake a brokered financing of subscription receipts for gross proceeds of US$40 million.

Aird & Berlis is representing Celestial Acquisition Corp. with a team led by Marek Lorenc.