2023-03-07 07:22:53 ET
- BlackSky Technology ( NYSE: BKSY ) has announced a private placement offering of 16.4M shares of its Class A common stock and warrants to purchase up to an additional 16.4M shares.
- The per share purchase price is $1.79.
- The warrants will become exercisable six months after issuance at an exercise price of $2.20 and have a term of five years from the initial exercise date. Each investor will receive an equivalent number of warrants
- Gross proceeds are estimated to be ~$29.5M; net proceeds will be used for general corporate purposes and investments in space and software platforms.
- BKSY shares were up 2% premarket following the firm's quarterly results announcement
For further details see:
BlackSky launches ~$29.5M securities offering