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Satellite imagery and data company BlackSky Holdings said it had agreed to go public through a merger with blank-check firm Osprey Technology Acquisition Corp in a deal valuing the combined entity at $1.5 billion.
An artist’s conception shows BlackSky’s Global satellites in orbit. (BlackSky Illustration)
BlackSky Holdings, which is operating a growing fleet of Earth observation satellites as well as a cloud-based platform to analyze geospatial data, says it will become a publicly traded company through a blank-check merger valued at nearly $1.5 billion.
The agreement with Osprey Technology Acquisition Corp. would result in BlackSky being listed on the NYSE with the ticker symbol “BKSY” in July.
It’s the latest chapter for a company that traces its roots to Seattle and still has roughly half of its 135-employee workforce here. The other half of the operation is based in Herndon, Va.
By Reuters Staff
2 Min Read
(Reuters) - Satellite imagery and data company BlackSky Holdings said it had agreed to go public through a merger with blank-check firm Osprey Technology Acquisition Corp in a deal valuing the combined entity at $1.5 billion.
BlackSky, founded in 2014, uses a constellation of high-resolution small satellites with artificial intelligence and machine learning for real-time Earth observation.
It said it will be listed on the New York Stock Exchange, under the new ticker symbol “BKSY” after the merger, which is expected to provide $450 million in net proceeds.
This includes $180 million from investors including Tiger Global Management, Peter Thiel’s Mithril Capital, Hedosophia and Senator Investment Group.