BlackSky Holdings and Osprey Technology Acquisition today announced they have entered into a definitive agreement for a business combination. The post-closing company, BlackSky will be listed on the NYSE under BKSY.
The transaction is expected to provide approximately $450 million of net proceeds to the combined company, assuming no redemptions, including a fully committed $180 million common stock PIPE with participation from institutional investors including Tiger Global Management, Mithril Capital, Hedosophia, and Senator Investment Group. Additionally, Osprey’s sponsor and its affiliates are investing over $20 million in the PIPE.
The pro forma equity value of the merger is expected to be nearly $1.5 billion at the $10 per share PIPE price.
BlackSky monitors activities and facilities worldwide by harnessing sensor networks and leveraging its own satellites. BlackSky processes millions of observations from space, air, environmental sensors, asset tracking sensors, Industrial IoT, and Internet-enabled sources. BlackSky’s on-demand satellites can image a location multiple times throughout the day. Read more.
