Hello, Guest!

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