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” upon the deal’s closure, the company said Tuesday.
CF Acquisition Corp. V operates as blank check company led by Chairman and CEO Howard Lutnick.
Satellogic noted it aims to increase the number of its satellites from 17 to 300 by 2025 through a launch agreement with SpaceX to offer a wide range of Earth imagery products to public and private sector customers for applications such event impact, food supply and climate change monitoring.
J.P. Morgan provides financial advisory to Satellogic on the transaction, while Friedman Kaplan Seiler & Adelman and Greenberg Traurig act as its legal counsel.
Cantor Fitzgerald & Co. and Hughes Hubbard & Reed serve as CFAC V’s financial and legal advisers, respectively.