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Lionheart Acquisition Announces (LCAP) $32 6B SPAC Deal with MSP Recovery
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Photonics News: Week in Brief: 07/09/21 | Business | Jul 2021
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Moore Kuehn Encourages CFV, KVSB, ATHN and DMYQ Investors to Contact Law Firm
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Earth Observation (EO) space startup
Satellogic plans to go public through a special purpose acquisition company (SPAC) merger that values the company at $850 million. Satellogic announced July 6 that it will merge with
CF Acquisition Corp. V, a SPAC sponsored by financial services firm
Cantor Fitzgerald.
Satellogic has 17 commercial satellites in orbit, and four were recently launched on the
SpaceX Transporter-2 mission. It plans to grow the constellation to more than 300 satellites by 2025. The company pitches its imagery as applicable for food supply, energy supply, water supply, climate change, and immigration.
Satellogic was founded in 2010. According to its investor presentation, the company reported no revenue in 2020, and expects $7 million revenues in 2021. It is targeting more than 100% revenue increases for the next few years in order to increase revenue to $787 million by 2025. The valuation reflects approximately 1.1 times the projected revenue in 2025. The
Space company Satellogic to go public via Cantor Fitzgerald SPAC at $1.1 billion valuation CNBC 7 hrs ago Michael Sheetz
Satellite imagery specialist Satellogic is preparing to go public, announcing plans to merge with a SPAC sponsored by Cantor Fitzgerald. We re going to grow the full [satellite] constellation by 2025 to 300 satellites, to get daily remaps of the entire planet, Satellogic CEO Emiliano Kargieman told CNBC.
SoftBank and Cantor Fitzgerald led an $100 million PIPE investment round alongside the merger.
The deal gives the space company a $1.1 billion equity valuation and is expected to close early in the fourth quarter. © Provided by CNBC A satellite image of the stuck container ship Ever Given in Egypt s Suez Canal, taken on March 25, 2021.