Osprey Technology Acquisition said its registration statement on Form S-4 outlining the proposed merger with satellite imagery company BlackSky has been declared effective by the SEC. The SPAC’s stockholders are scheduled to vote on the deal Sept. 8.
Announced in February, 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. Read more.
