Satellogic Announces Closing of $20 Million Registered Direct Offering of Class A Common Stock | SATL Stock News

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Apr 16, 2025
  • Satellogic Inc. (SATL, Financial) successfully raised $20 million through a registered direct offering.
  • 6,451,612 shares of Class A Common Stock were issued at $3.10 per share.
  • The funds will support general corporate purposes amidst strategic U.S. realignment and recent $30 million AI-first contract.

Satellogic Inc. (SATL), a leader in high-resolution Earth observation data, announced the successful closure of a registered direct offering, raising approximately $20 million in gross proceeds. The offering involved the issuance of 6,451,612 shares of Class A Common Stock at a price of $3.10 per share. Cantor Fitzgerald & Co. acted as the exclusive placement agent for this transaction.

The company plans to utilize the net proceeds from this offering for general corporate purposes. This financial boost comes on the heels of Satellogic's recent announcement of a $30 million AI-first constellation contract and marks a strategic shift as the company realigns as a U.S. entity. The offering was executed under a shelf registration statement on Form S-3, previously filed and declared effective by the SEC.

While the introduction of new shares implies approximately 6.7% dilution, the enhanced liquidity bolsters Satellogic's operational capacity in a sector fraught with challenging capital markets. This move is aligned with management’s focus on leveraging AI-driven technology and expanding its presence in lucrative U.S. government and defense contracts where Earth observation data is in high demand.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.