February 10, 2023
SpaceRyde Inc., a Concord, Ontario-based company that was building a network of rockets to provide on-demand cargo transportation in space, filed an assignment in bankruptcy on February 10. According to the company’s website, its mission was to eliminate the bottleneck of space innovation through regular, convenient and affordable transportation from earth to the moon. The company lists approximately $10.8 million in liabilities, including over $7.1 million in grants of rights to future equity to various contingent creditors, as well as over $1 million in unsecured debt to Avocado Tree and over $2.2 million in unsecured debt to Piret (GTA North) Holdings. Deloitte is the Bankruptcy Trustee.
By Dina Milivojevic
