50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Satellogic secures $10 million in private placement

Published 12/09/2024, 08:24 AM
SATL
-

Satellogic specializes in delivering real-time insights through satellite imagery for a variety of applications, including government and commercial use. Its constellation of small satellites aims to provide scalable and cost-effective Earth observation solutions. While the company maintains a healthy current ratio of 1.72, InvestingPro data indicates it's quickly burning through cash, a crucial factor for investors to consider in this rapidly growing space technology sector. While the company maintains a healthy current ratio of 1.72, InvestingPro data indicates it's quickly burning through cash, a crucial factor for investors to consider in this rapidly growing space technology sector.

Satellogic specializes in delivering real-time insights through satellite imagery for a variety of applications, including government and commercial use. Its constellation of small satellites aims to provide scalable and cost-effective Earth observation solutions. While the company maintains a healthy current ratio of 1.72, InvestingPro data indicates it's quickly burning through cash, a crucial factor for investors to consider in this rapidly growing space technology sector.

The private placement is being conducted under the exemption provided in Section 4(a)(2) of the United States Securities Act of 1933. In tandem with the placement, Satellogic has committed to filing a resale registration statement on Form F-3 with the Securities and Exchange Commission shortly after the closing, which will facilitate the resale of the issued shares on behalf of the Purchasers.

Cantor Fitzgerald & Co. is acting as the placement agent for the offering. The press release clarified that this announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities.

Satellogic specializes in delivering real-time insights through satellite imagery for a variety of applications, including government and commercial use. Its constellation of small satellites aims to provide scalable and cost-effective Earth observation solutions.

The press release also contains forward-looking statements regarding Satellogic's expectations and potential future developments. These statements, while indicative of the company's strategy and perceived future opportunities, are subject to risks and uncertainties inherent in forward-looking projections.

The information presented here is based on a press release statement and is intended to provide investors with key insights into Satellogic's recent financial activity.

In other recent news, Satellogic Inc., a high-resolution satellite imagery company, has reported significant developments. The company has expanded its commercial partnership with SynMax, a U.S.-based satellite data analytics firm. This enhanced collaboration will triple oil and natural gas wellhead coverage in North America, monitored via SynMax's Hyperion platform. Satellogic will provide imagery for over 100 wellheads multiple times per week, offering near real-time insights into drilling rig and frac crew activity.

Satellogic has also been named as one of eight recipients of NASA's Commercial SmallSat Data Acquisition Program (CSDA) On-Ramp 1 Multiple Award contract. This contract allows Satellogic to supply NASA with multispectral imagery until November 15, 2028. The CSDA On-Ramp 1 initiative aims to boost NASA's Earth observation capabilities by incorporating commercial satellite data.

Furthermore, Satellogic has welcomed Kelly Kennedy to its Board of Directors and as the chair of the board's Audit Committee, following the retirement of Brad Halverson. Kennedy's extensive background in finance and operations is expected to enhance the company's strategic growth and financial governance. These recent developments continue to shape the trajectory of Satellogic Inc., as it remains committed to providing accessible and actionable geospatial data.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.