Hello, Guest!
  • Friday, November 22, 2024

Satellogic Goes Public Post-SPAC Combination, Names Steven Mnuchin Non-Exec Board Chair

Satellogic, which aims to provide geospatial data to the government and commercial sectors, went public Wednesday following the completion of the satellite imagery provider’s merger with a Cantor Fitzgerald-backed special purpose acquisition company.

The combination with CF Acquisition Corp. V, which was first announced in July 2021, would bring in $262 million in gross proceeds for Satellogic and places the combined entity’s stocks on the Nasdaq under the symbol SATL, the company said Tuesday.

Proceeds include $100 million from a private placement funding round led by Cantor Fitzgerald and SoftBank’s SBLA Advisers Corp. Liberty Strategic Capital also committed $150 million in private placement funds to help raise the funds.

Steven Mnuchin, founder of Liberty Strategic Capital and former Department of the Treasury secretary, will serve as the non-executive chairman of Satellogic’s board of directors.

Satellogic plans to use the money raised through the deal in efforts to establish its satellite constellation for mapping Earth’s surface.

Video of the Day

Related Articles

Joseph Dunford Named to Satellogic Board Executive Moves

Joseph Dunford Named to Satellogic Board

Joseph Dunford, a retired U.S. Marine Corps general and senior managing director at Liberty Strategic Capital, has joined the board of directors of Satellogic (Nasdaq: SATL). “Drawing on his distinguished career as a national security leader, General Dunford will offer invaluable perspective and insight as Satellogic works to unlock high-resolution Earth imagery and analytics for

New York-Based SPAC Enters Merger Deal With Satellogic M&A Activity

New York-Based SPAC Enters Merger Deal With Satellogic

Satellogic, an Argentina-based satellite imagery provider to the government and commercial markets, has agreed to merge with New York-based CF Acquisition Corp. V (Nasdaq: CFV) in a transaction with an enterprise value of $850 million. The Argentine satellite operator, also known as Nettar Group, intends to trade on the Nasdaq under the ticker symbol “SATL”