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Heinlein Prize Trust invests in March 4, 2010 Houston, Texas
The Robert A. and Virginia Heinlein Prize Trust, acting through its trustees, has agreed to make a secured investment in Sea Launch Company, a California based commercial launch services provider that has been in Chapter 11 bankruptcy reorganization since mid-2009. The trust's loan is secured by Court-approved super priority liens on substantial Sea Launch assets and will earn a considerably greater return for the trust than was previously earned by the trust's asset portfolio. The trust's funds invested in Sea Launch will support minimal business operations until its emergence from bankruptcy, when it will resume its business of launching communications satellites. Sea Launch is an international company operates the heavy lift Zenit rockets built by Russian and Ukrainian companies. It launches satellies from a converted Norweigan oil drilling platform in international waters on the equator during launch campaigns managed by the majority partner, Boeing Company. The Trust is pleased to have the opportunity to invest in the survival of an important company that has advanced the progress of international commercial aerospace, an endeavor deemed crucially important by Robert Heinlein.
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©2003-2009 The Heinlein Prize Trust