Satellogic prices 27.7M shares at $3.25 in underwritten public offering

Satellogic (SATL) announced the pricing of its underwritten public offering of 27,692,308 shares of Class A common stock, at a public offering price of $3.25 per share. The Company has also granted the underwriters a 30-day option to purchase up to 4,153,846 additional shares of Class A common stock on the same terms. The gross proceeds to the Company from this offering are expected to be approximately $90M, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company, and assuming no exercise of the underwriters’ option to purchase additional shares of Class A common stock. The offering is expected to close on or about October 17, subject to satisfaction of customary closing conditions. All of the shares of Class A common stock in the offering are to be sold by the Company. Cantor and Titan Partners Group, a division of American Capital Partners, are acting as joint bookrunning managers of the offering. Craig-Hallum and Northland Capital Markets are acting as co-managers for the offering.