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Satellogic Inc. Financial Report: $50M Sales Agreement Update (Form 6-K)

$SATL
Form 6-K
Filed on: 2025-02-13
Source
Satellogic Inc. Financial Report: $50M Sales Agreement Update (Form 6-K)

The key information and insights extracted from the financial report (Form 6-K) for Satellogic Inc. dated February 12, 2025, include:

  1. Document Type: This is a Form 6-K report submitted by Satellogic Inc. to the SEC.
  2. Company Information:
  • Name: Satellogic Inc.
  • Principal Executive Office: Ruta 8 Km 17,500, Edificio 300, Oficina 324 Zonamérica, Montevideo, 91600, Uruguay.
  • Commission File Number: 001-41247.
  1. Transaction Details:
  • On February 12, 2025, Satellogic Inc. entered into an Amended and Restated Sales Agreement with Cantor Fitzgerald & Co. and Northland Securities, Inc.
  • Northland was added as an additional Sales Agent for the sale of the company's Class A Ordinary Shares.
  • The total offering amount under this agreement is up to $50 million.
  • The agreement did not increase the amount of shares available for sale compared to the original sales agreement made on December 20, 2024. Notably, no shares were sold under the original agreement.
  1. Sales Agreement Conditions:
  • The company is not obligated to sell any shares under this Amended Sales Agreement.
  • The Sales Agents will sell the shares as per the company's instructions, adhering to applicable laws and exchange rules.
  • Sales may occur as an "at the market offering" as defined under Rule 415(a)(4) of the Securities Act of 1933.
  • The company will compensate the Sales Agents according to a fee schedule in the agreement and provide customary indemnification and reimburse certain expenses.
  1. Additional Notes:
  • Northland Securities has agreed to act as a "qualified independent underwriter" for future purchases under the agreement without additional compensation.
  • The report clarifies that it does not constitute an offer to sell or solicit an offer to buy the Ordinary Shares in any jurisdiction where such actions would be unlawful.
  1. Incorporation by Reference:
  • This report is incorporated by reference into the Registration Statement and related prospectus supplements, unless superseded by subsequent filings.
  1. Signatories:
  • The report is signed by Rick Dunn, Chief Financial Officer of Satellogic Inc., dated February 12, 2025.

This report is significant as it outlines a strategic financing move by Satellogic Inc. through a new sales agreement and highlights the company’s liquidity options while not committing to immediate sales of its shares.