Satellite imagery company Satellogic completed its business combination with CF Acquisition V folowing a favorable vote on the deal by the SPAC’s stockholders.
Satellogic’s Class A shares and warrants will trade on the Nasdaq under the ticker symbols SATL and SATLW starting today.
CF Acquisition V in an 8-K filing disclosed that 23,143,646 shares were redeemend ahead of the merger vote, which wiped out nearly 95% of the SPAC’s $250 million cash in trust.
A vote on the deal was postponed three times in December while the SPAC rounded up additional financing to seal the deal.
Based in Argentina, Satellogic is building the first scalable, fully automated Earth observation platform with the ability to remap the entire planet at both high-frequency and high-resolution, which the company said will provide “accessible and affordable solutions for geospatial data customers.” Read more.
