BlackSky

Founded in 2014, BlackSky is a first mover in real-time Earth observation leveraging the innovative performance and economics of small satellite constellations to deliver high revisit global monitoring solutions. BlackSky has developed a fully integrated proprietary geointelligence technology stack that includes a constellation of high-resolution small satellites that monitor global events and activities at high revisit rates, an AI and machine learning enabled software platform that tasks the constellation and translates data into actionable insights, a proprietary database that continually captures information on global changes, and an application layer that delivers on-demand solutions directly to the customer. BlackSky’s global monitoring solution is available via a simple subscription and requires no IT infrastructure or setup. BlackSky has also established a vertically integrated small satellite design and production capability through its LeoStella joint venture with Thales Alenia Space.

In February 2021, BlackSky entered into a business combination agreement with Osprey Technology Acquisition (NYSE: SFTW); the newly combined company is expected to be listed on the NYSE under the new ticker symbol “BKSY.” The business combination agreement is expected to provide approximately $450 million of net proceeds to the combined company, assuming no redemptions, to fund expected future growth, including a fully committed $180 million common stock PIPE with participation from leading institutional investors including Mithril, Tiger Global Management, Hedosophia, and Senator Investment Group. The pro forma equity value of the merger is expected to be nearly $1.5 billion at the $10.00 per share PIPE price.