Satellogic Announces $10 Million Private Placement Made By a Single Institutional Investor

December 09, 2024

Satellogic Inc. 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.

“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.

“This new facility from a significant institutional investor is meaningful as we look to continue expanding in 2025,” added Rick Dunn, CFO of Satellogic.

The 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.