DENVER — Astranis has raised $450 million in new capital, combining equity and debt as the San Francisco-based satellite operator seeks to expand production and position itself for growing U.S. military demand, the company said May 6.

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Sandra Erwin writes about military space programs, policy, technology and the industry that supports this sector. She has covered the military, the Pentagon, Congress and the defense industry for nearly two decades as editor of NDIA’s National Defense...