Full Press Release Details
| SPACEHAB, Inc. |
| 12130 Highway 3, Bldg. 1 |
| Webster, Texas 77598-1504 |
| 1.713.558.5000 |
| fax: 1.713.558.5960 |
SPACEHAB ANNOUNCES $6 MILLION FINANCING FACILITY
Company Achieves Another Milestone in Corporate Restructuring
Texas, February 8, 2008 SPACEHAB, Incorporated
(NASDAQ: SPAB), a provider of commercial space services,
today announced that the Company has established a $6 million credit facility with Green
Bank, N.A. The new financing facility is part of the Company s ongoing
financial restructuring strategy providing capital as SPACEHAB
pursues its new business opportunities as well as improving overall
The new facility provides
for a 3-year $4.0 million term loan and a $2.0 million revolving credit
facility. The Company is subject to various financial and
other covenants based upon its Astrotech Space Operations subsidiary. The
funds are available to SPACEHAB and its subsidiaries for new business
initiatives and general corporate purposes.
Green Bank is a wholly-owned
subsidiary of Green Bancorp, Inc. The bank currently has assets of $235
million and operates three branches in Houston and one in Austin. Green Bank
embraces innovative technology while consciously promoting
environmental responsibility.
SPACEHAB, Incorporated
SPACEHAB is a commercial and
entrepreneurial force in the space industry providing a full spectrum of products and
services to both the government and private sectors. The Company offers space
access and payload integration services, production of valuable commercial
products in space, spacecraft pre-launch processing facilities and
services, development and extension of space-based products to the consumer market, and
program and engineering support ranging from development and manufacturing of
flight hardware to large scale government project management.
The statements in this document may
contain forward-looking statements that are made pursuant to the Safe Harbor
provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are subject to risks,
trends, and uncertainties that could cause
actual results to be materially different from the forward-looking statement.
These factors include, but are not limited to,
continued government support and funding for key space programs, product
performance and market acceptance of products and
services, as well as other risk factors and business considerations described
in the company s Securities & Exchange Commission filings
including the annual report on Form 10-K. Any forward-looking statements in this
document should be evaluated in light of these important risk factors. The
Company assumes no obligation to update these
forward-looking statements.
FOR MORE INFORMATION:
Eva-Marie deCardenas
Corporate Marketing and