BlackSky Announces Completion of Merger with Osprey Technology Acquisition Corp.

September 09, 2021

BlackSky Holdings, Inc.  has completed its previously announced business combination with Osprey Technology Acquisition Corp. (“Osprey”) to take BlackSky public. The combined company has been renamed “BlackSky Technology Inc.” and its shares will commence trading on the New York Stock Exchange (NYSE) on September 10, 2021, under the ticker symbol “BKSY” for BlackSky common stock and “BKSY.W” for BlackSky warrants.

Upon closing, the combined company received approximately $283 million in gross proceeds, comprised of approximately $103 million in cash held in trust by Osprey and the proceeds of a $180 million PIPE. Osprey’s shareholders approved the transaction at a shareholder meeting on September 8, 2021.

“Our team is excited that we have reached this major milestone on our first-to-know mission to lead a new era of real-time global intelligence. We are looking forward to this next chapter as a public company and the many opportunities that lie ahead in the new space economy,” said BlackSky CEO Brian O’Toole. “We welcome our new shareholders to join our journey as we provide global customers with critical insights to see and understand important changes that impact their business.”

As a public company, BlackSky’s position as a leading geospatial data, analytics and monitoring services company is further strengthened. CEO Brian O’Toole will continue to lead the combined company with Will Porteous remaining as chairman of the board. In connection with the business combination, Magid Abraham, Timothy Harvey and James Tolonen will join BlackSky’s board. David DiDomenico, a partner at JANA Partners who heads its SPAC initiative and, in such role, serves as president, CEO and a director of Osprey, will continue to serve on the combined company’s board of directors.

“The Osprey team is very excited for Brian O’Toole and the BlackSky organization. We look forward to watching them execute on BlackSky’s strategic growth plan as a public company,” said Osprey Co-Executive Chairman Jonathan Z. Cohen.