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Satellogic Inc. Announces $50M Share Offering: Key Insights from Form 6-K Report

$SATL
Form 6-K
Filed on: 2024-12-20
Source
Satellogic Inc. Announces $50M Share Offering: Key Insights from Form 6-K Report

Here are the key insights extracted from the provided financial report section (Form 6-K) related to Satellogic Inc.:

  1. Company Information:
  • Name: Satellogic Inc.
  • Location: Ruta 8 Km 17,500, Edificio 300, Oficina 324 Zonamérica, Montevideo, 91600, Uruguay.
  • SEC Commission File Number: 001-41247.
  1. Sales Agreement:
  • Date of Agreement: December 20, 2024.
  • Counterparty: Cantor Fitzgerald & Co. acts as the Sales Agent.
  • Offering Amount: The Company may offer and sell Class A Ordinary Shares with an aggregate offering amount of up to $50,000,000.
  1. Sales Structure:
  • Shares will be sold through an "at the market offering" as defined by Rule 415(a)(4) under the Securities Act.
  • The Company is not obligated to sell any Ordinary Shares under the Sales Agreement.
  • The Sales Agent will sell shares based on the Company's instructions, adhering to applicable laws and Nasdaq regulations.
  1. Compensation:
  • The Company will pay the Sales Agent according to a specified fee schedule and will provide indemnification and reimburse certain specified expenses.
  1. Prospectus Supplement:
  • A prospectus supplement was filed on the same day as the Sales Agreement, which is part of an effective registration statement on Form F-3 (File No. 333-283719) filed with the SEC on December 10, 2024.
  1. Legal Compliance:
  • The document states that it does not constitute an offer or solicitation to sell Ordinary Shares in any jurisdiction where such an offer would be illegal.
  1. Exhibits:
  • The report includes legal opinions and the full text of the Sales Agreement as part of the exhibits, ensuring compliance with securities law.
  1. Signatory:
  • The report is signed by Rick Dunn, Chief Financial Officer of Satellogic Inc., affirming the authenticity of the document.

This information is crucial for investors and analysts as it details the company's capital-raising activities, legal compliance, and the framework for how the shares will be sold.