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Satellogic Announces $10 Million Private Placement Made By a Single Institutional Investor
NEW YORK--(BUSINESS WIRE)-- Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation data, announced today it has entered into a
About this update from Satellogic Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nSatellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation data, announced today it has entered into a share purchase agreement with a single institutional investor, pursuant to which the Company has agreed to issue and sell an aggregate 3,571,429 Class A Ordinary Shares (the “Shares”) in a private placement at a purchase price of $2.80 per share, resulting in gross proceeds of approximately $10 million before deducting offering expenses. The Company expects to use the net proceeds from the offering for general corporate purposes. The transaction is expected to close on or before December 10, 2024.\n\n\n“The proceeds from this investment in Satellogic will help advance our mission as we continue to focus on our U.S. strategy, the National Security market, and our global Space Systems opportunities,” said Emiliano Kargieman, CEO & Founder, of Satellogic.\n\n\n“This new facility from a significant institutional investor is meaningful as we look to continue expanding in 2025,” added Rick Dunn, CFO of Satellogic.\n\n\nThe Shares were offered and will be sold by the Company in a private placement pursuant to the exemption provided in Section 4(a)(2) under the United States Securities Act of 1933, as amended (the “Securities Act”). The Company has agreed to file a resale registration statement on Form F-3 with the Securities and Exchange Commission promptly following the closing registering the ordinary shares issued pursuant to the share purchase agreement for resale on behalf of the Purchasers.\n\n\nCantor Fitzgerald & Co. is serving as placement agent in connection with the offering.\n\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities of the Borrower or the Company in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.\n\n\nAbout Satellogic\n\n\nSatellogic is a leading provider of sub-meter resolution satellite imagery that delivers real-time insights for governments, industries, and consumers worldwide. With its growing constellation of small satellites, Satellogic offers scalable, cost-effective solutions for high-frequency Earth observation.\n\...