Satellogic, which aims to provide geospatial data to the government and commercial sectors, went public following the completion of the satellite imagery provider’s merger with a Cantor Fitzgerald-backed SPAC, reports GovCon Wire.
Steven Mnuchin, former Department of the Treasury secretary, will serve as the non-executive chairman of Satellogic’s board of directors.
Mnuchin’s firm Liberty Strategic Capital helped save the deal between Satellogic and the SPAC by committing to $150 million in private placement funds to raise capital when a successful transaction seemed in doubt. Liberty Strategic came through with the funding a week before the SPAC’s shareholder vote on the merger.
As it turned out, CF Acquisition V investors ultimately redeemed shares that wiped out nearly 95% of the SPAC’s trust. Read more.
