• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

OSINT.org

Intelligence Matters

  • Sponsored Post
    • Make a Contribution
  • Market Intelligence
    • Technologies
    • Startups
    • Events
  • Domain Intelligence
  • About
  • Contact

BlackSky, a Leading Real-Time Geospatial Intelligence, Imagery and Data Analytics Company, to List on NYSE Through a Merger With Osprey Technology Acquisition Corp.

February 18, 2021 By admin Leave a Comment

BlackSky Holdings, Inc., a leading real-time geospatial intelligence, imagery, and data analytics company has entered into a business combination agreement with Osprey Technology Acquisition Corp. (NYSE:SFTW); the newly combined company is expected to be listed on the NYSE under the new ticker symbol “BKSY.”

The business combination agreement is expected to provide approximately $450 million of net proceeds to the combined company, assuming no redemptions, to fund expected future growth, including a fully committed $180 million common stock PIPE with participation from leading institutional investors including Tiger Global Management, Mithril Capital (co-founded by Ajay Royan and Peter Thiel), Hedosophia, and Senator Investment Group. Additionally, Osprey’s sponsor and its affiliates are investing over $20 million in the PIPE.

Pro forma equity value of the merger is expected to be nearly $1.5 billion at the $10.00 per share PIPE price.

BlackSky Holdings, Inc. (“BlackSky”), a leading provider of real-time geospatial intelligence and global monitoring services, and Osprey Technology Acquisition Corp. (“Osprey”) (NYSE:SFTW), a special purpose acquisition company, today announced they have entered into a definitive agreement for a business combination that would result in BlackSky becoming a publicly listed company. It is anticipated that the post-closing company, BlackSky will be listed on the NYSE with the ticker symbol “BKSY”.

Founded in 2014, BlackSky is a first mover in real-time Earth observation leveraging the innovative performance and economics of small satellite constellations to deliver high revisit global monitoring solutions. BlackSky’s Artificial Intelligence/Machine Learning powered analytics platform derives unique insights from its constellation as well as a variety of space, IoT, and terrestrial based sensors and data feeds. BlackSky monitors global events and activities providing enhanced situational awareness for commercial and government customers worldwide.

BlackSky has developed a fully integrated proprietary technology stack that includes a constellation of high-resolution small satellites that monitor global events and activities at high revisit rates, an AI and machine learning enabled software platform that tasks the constellation and translates data into actionable insights, a proprietary database that continually captures information on global changes, and an application layer that delivers on-demand solutions directly to the customer. BlackSky has also established a vertically integrated small satellite design and production capability through its LeoStella joint venture with Thales Alenia Space. BlackSky has five satellites in commercial operation and is scheduled to add an additional nine satellites to its constellation in 2021. Ultimately, BlackSky seeks to establish a constellation of 30 high resolution multi-spectral satellites capable of monitoring locations on Earth every 30 minutes, day or night.

BlackSky has established contracts with multiple government agencies in the United States and around the world. BlackSky’s pipeline of opportunities grew by $1.1 billion in the last twelve months and stands at $1.7 billion today.

“This transaction fully funds our growth plans and accelerates our vision of providing our customers with a ‘first-to-know’ advantage. This is an important inflection point for our industry as commercial and government users demand access to real time information about the changes that matter most to them,” said Brian O’Toole, CEO of BlackSky. “With our high revisit rate constellation and our sophisticated analytics platform, BlackSky can address the market’s significant demand for real-time geospatial intelligence. We’re excited to partner with Osprey to accelerate our mission to support our customers’ critical needs.”

“We are delighted to partner with BlackSky, a first mover in a large and exciting new market,” said David DiDomenico, a Partner of JANA Partners LLC who also serves as CEO of Osprey. “The new space economy is taking off, and we believe that BlackSky’s low-cost image capture and on-demand delivery of analytics will revolutionize the way companies and governments detect and track change. BlackSky’s continuously growing, proprietary database is a valuable competitive advantage, and we believe its vertically integrated operations serve as a major point of distinction among other space analytics companies. This transaction will bring to fruition the vision of Brian and the BlackSky team.”

Jonathan Z. Cohen, Executive Chairman of Osprey, added “We are thrilled to join forces with Brian and the BlackSky team, and many of the pre-eminent investors in the new space economy. We look forward to working together to build long term value for BlackSky shareholders.”

Transaction Overview

Pursuant to the transaction, Osprey, which currently holds approximately $318 million in trust, will combine with BlackSky at an estimated pro forma enterprise value of $1.1 billion. Assuming no redemptions by Osprey’s existing public shareholders, BlackSky’s existing shareholders will hold approximately 62.6% of the fully diluted shares of common stock immediately following the closing of the business combination.

The combined company expects to receive approximately $450 million in net proceeds, assuming no redemptions by Osprey’s existing public shareholders. These cash proceeds are expected to be used to extend BlackSky’s AI/ML analytics platform, expand BlackSky’s small satellite constellation, add additional sensors and data feeds to the BlackSky network and accelerate the Company’s penetration of the commercial market.

The transaction has been unanimously approved by the Board of Directors of both Osprey and BlackSky, and is subject to the satisfaction of customary closing conditions, including the approval of Osprey’s shareholders. The transaction is expected to close in July 2021.

Additional information about the proposed business combination, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by Osprey today with the Securities and Exchange Commission (the “SEC”) and available at www.sec.gov. The investor presentation can also be found on BlackSky’s website at https://www.blacksky.com/ and Osprey’s website at https://www.osprey-technology.com/. In addition, Osprey intends to file a registration statement on Form S-4 with the SEC, which will include a proxy statement/prospectus, and will file other documents regarding the proposed transaction with the SEC.

Investor Conference Call Information

BlackSky and Osprey will host a joint investor conference call to discuss the proposed transaction on February 18th, 2021 at 10:00 AM EST. In order to access the conference call, please visit https://www.osprey-technology.com/. The call may also be accessed by dialing 1-844-512-2921 and entering passcode 143620.

Advisors

Credit Suisse Securities (USA) LLC is acting as lead financial advisor and as capital markets advisor to BlackSky, and Credit Suisse Securities (USA) LLC acted as lead placement agent and Moelis & Company LLC also acted as placement agents in connection with the PIPE offering. Moelis & Company LLC is acting as lead financial advisor and Union Square Advisors LLC is acting as capital markets and strategic advisor to Osprey. PJT Partners LP is one of BlackSky’s financial advisors and a placement agent with respect to this transaction. Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal advisor to BlackSky. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Osprey. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Credit Suisse Securities (USA) LLC.

About BlackSky Holdings, Inc.

BlackSky is a leading provider of real-time geospatial intelligence. BlackSky monitors activities and facilities worldwide by harnessing the world’s emerging sensor networks and leveraging its own satellite constellation. BlackSky processes millions of observations from space, air, environmental sensors, asset tracking sensors, Industrial IoT, and Internet-enabled narrative sources. BlackSky’s on-demand constellation of satellites can image a location multiple times throughout the day. BlackSky monitors for pattern-of-life anomalies to produce alerts and enhance situational awareness. BlackSky’s monitoring service is powered by cutting-edge compute techniques including machine learning, artificial intelligence, computer vision, and natural language processing. BlackSky’s global monitoring is available via a simple subscription and requires no IT infrastructure or setup. For more information visit www.blacksky.com.

About Osprey Technology Acquisition Corp.

Osprey is a special purpose acquisition corp., or SPAC, that was established as a collaboration between investment firms HEPCO Capital Management, led by Jonathan and Edward Cohen, and JANA Partners, led by Barry Rosenstein and with its SPAC initiative led by JANA Partner David DiDomenico, who serves as Osprey’s CEO, President, and Director. Osprey was formed to consummate a transaction with one or more transformative companies that have developed innovative software delivery platforms. For more information visit www.osprey-technology.com.

Additional Information and Where to Find It

This communication relates to the proposed transactions between Osprey and BlackSky. This communication does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Osprey intends to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (the “SEC”), which will include a document that serves as a prospectus and proxy statement of Osprey, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all Osprey stockholders. Osprey also will file other documents regarding the proposed transactions with the SEC. Before making any voting or investment decision, investors and security holders of Osprey are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transactions as they become available because they will contain important information about the proposed transactions.

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Osprey through the website maintained by the SEC at www.sec.gov.

The documents filed by Osprey with the SEC also may be obtained free of charge from Osprey upon written request to 1845 Walnut Street, Suite 1111, Philadelphia, Pennsylvania 19103.

Participants in Solicitation

Osprey and BlackSky and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Osprey stockholders in connection with the proposed transactions. Osprey’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of Osprey in Osprey’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 6, 2020, and in Osprey’s registration statement on Form S-4, which is expected to be filed by Osprey with the SEC in connection with the business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Osprey’s stockholders in connection with the proposed business combination is set forth in the proxy statement/prospectus on Form S-4 for the proposed business combination, which is expected to be filed by Osprey with the SEC in connection with the business combination.

A list of the names of such directors and executive officers and information regarding their interests in the transactions will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

Filed Under: Workflow

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Market Analysis

DeFiRetailing.com (DeFi Retailing): DeFi will change retail as we know it
Europe’s Electricity Mix
eWaste Reclamation: Electronic waste is a huge problem
Crash course will teach you the basics so you can code APIs quickly
Automation is the future of retail market
AIML-powered trading is the future
Australia approves a drought-tolerant genetically modified strain of wheat for use in food

Opinion

Russia is not in position to challenge West militarily in a long & costly war
Erdogan copies Putin’s playbook
Starbucks will close all its business in Russia
Here is a list of 6,000 Putin’s enablers who should be sanctioned immediately
Australians fear attack from China
Xi Jinping is killing Chinese economy
Sanctions, shmanctions

Secondary Sidebar

Market Research Media

AfricanInvesting.com (African Investing): Africa VC Funding Grew Exponentially in 2016-2021
The Luxury Industry: Accelerating and Advancing Corporate Responsibility to Meet Evolving Consumer Demands
NFTstockphotography.com (NFT Stock Photography): NFT Photography is The Next Big Thing
Military Applications of Extended Reality
Inflation Bites: The U.S. government can buy fewer infrastructure today

Dossier

Hopin Acquires Boomset, Becoming an All-in-One Event Management Platform for Virtual, Hybrid and In-person Experiences
J.P. Morgan agrees to acquire OpenInvest, a pioneer in values-based investing
When it comes to ESG, we’re just scratching the surface
Deals activity hit record levels in the UK and worldwide last year and plummeted in first half of 2022
Autodesk Confirms Proposal to Acquire Electronic Design Software Leader Altium Limited

Footer

Recent Posts

  • Turkey begins an investigation into the origin of grain aboard a Russian ship
  • Poland has been the second largest donor of military equipment to Ukraine
  • Unidentified operatives have been using the fitness tracking app Strava to spy on members of the Israeli military
  • Geogentia Combats Organized Retail Crime
  • Where Russia’s Stolen Grain Is Going
  • Ayoob Entezari story is getting interesting
  • Karma is the bitch
  • Esri Integrates LightBox Data to Expand Geocoding for Canadian Content
  • Corporate spying has become more of a general business risk
  • Intelligence analysis is hobbled by a political culture

Analysis

Average Age of Vehicles in the US Increases to 12.2 years, according to S&P Global Mobility
Analytics leader debuts virtual SAS Global Forum
Wild Alaska Pollock Is Among the Most Climate-Friendly Proteins in the World
Thought Industries-Sponsored Research Finds Customer Education Delivers Performance Improvements Across the Customer Lifecycle
Now That Digital Transformation Is Commonplace, People Want Companies to Intensify Their Efforts, Involve Them in the Process, and Increase Training and Support

VPNW

AI-based transcription tools have made one particularly tiresome aspect of journalism far easier
Employee expectations have undergone a seismic shift
CyberConnect raises $15M Series A
How to estimate company’s preparedness to meet moral and business obligations
U.S. and Canadian Workers Report Highest Engagement Levels and Best Job Climate in the World, Despite Higher Stress Levels for Women

OPINT

Be a futurist
Macro-Eyes Wins the 2022 xTeachsearch6 Army technology innovation competition
CENSIA Raises $21m in Series A Funding to Bring Bias-free Intelligence to Human Capital Management
CrowdStreet and Juniper Square Partner to Usher in the Next Chapter of Digital Transformation for the Commercial Real Estate Industry
Gilat Awarded $9 Million in Orders for Support of Low Earth Orbit Constellation

Calendarial

Clean Energy Week 2021, September 20-24, 2021
EIT Urban Mobility brings together senior elected officials from cities across Europe to discuss the future of urban mobility, November 17, 2021
CERAWeek by IHS Markit 2022, March 7-11 in Houston
The Gartner Data & Analytics Summit 2022, August 22-24 2022, Orlando, Florida
Copenhagen Democracy Summit 2022, June 9-10, 2022

Copyright © 2022 OSINT.org

Technologies, Market Analysis & Market Research

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT