BlackSky Technology Inc. Enters Material Definitive Agreement

TL;DR

BlackSky (BKSY) signed a big deal, filing an 8-K today.

AI Summary

BlackSky Technology Inc. announced on September 24, 2024, that it entered into a Material Definitive Agreement. The filing also includes other events and financial statements and exhibits. The company was formerly known as Osprey Technology Acquisition Corp.

Why It Matters

This filing indicates a significant new agreement for BlackSky Technology Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that are not yet fully understood.

Key Players & Entities

• BlackSky Technology Inc. (company) — Registrant
• Osprey Technology Acquisition Corp. (company) — Former company name
• September 24, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 per share BKSY The New York Stock Excha
• $92.00 — A common stock at an exercise price of $92.00 per share BKSY.W The New York Stock Ex
• $4.00 — ng price to the public of the Shares is $4.00 per share, and the Underwriters have ag
• $3.76 — he Underwriting Agreement at a price of $3.76 per share. Under the terms of the Under
• $40.0 million — ffering expenses, will be approximately $40.0 million or approximately $46.0 million if the U
• $46.0 million — ximately $40.0 million or approximately $46.0 million if the Underwriters' option to purchase

Filing Documents

• bksy-20240924.htm (8-K) — 39KB
• exhibit11-pricing8xk9252024.htm (EX-1.1) — 227KB
• exhibit51-pricing8xk9252024.htm (EX-5.1) — 13KB
• exhibit991-pricing8xk92524.htm (EX-99.1) — 11KB
• exhibit992-pricing8xk92520.htm (EX-99.2) — 12KB
• blackskylogoa.jpg (GRAPHIC) — 16KB
• blackskylogob.jpg (GRAPHIC) — 7KB
• exhibit511a.jpg (GRAPHIC) — 371KB
• 0001628280-24-041265.txt ( ) — 1069KB
• bksy-20240924.xsd (EX-101.SCH) — 2KB
• bksy-20240924_def.xml (EX-101.DEF) — 16KB
• bksy-20240924_lab.xml (EX-101.LAB) — 28KB
• bksy-20240924_pre.xml (EX-101.PRE) — 17KB
• bksy-20240924_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On September 24, 2024, BlackSky Technology Inc., a Delaware corporation (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Oppenheimer & Co. Inc., as representative of the several underwriters listed in Schedule 1 to the Underwriting Agreement (the "Underwriters"), relating to the sale and issuance of an aggregate of 10,000,000 shares (the "Shares") of the Company's Class A common stock, par value $0.0001 per share ("Common Stock"). The offering price to the public of the Shares is $4.00 per share, and the Underwriters have agreed to purchase the Shares from the Company pursuant to the Underwriting Agreement at a price of $3.76 per share. Under the terms of the Underwriting Agreement, the Company also granted the Underwriters an option, exercisable for 30 days, to purchase up to an additional 1,500,000 shares of Common Stock at a price to the public of $4.00 per share. The Company estimates that the gross proceeds from the offering, before deducting the underwriting discounts and commissions and other offering expenses, will be approximately $40.0 million or approximately $46.0 million if the Underwriters' option to purchase additional shares is exercised in full. The Shares will be issued pursuant to the Company's shelf registration statement on Form S-3 (File No. 333-267889), and a related prospectus and prospectus supplement, filed with the Securities and Exchange Commission. The offering is expected to close on September 26, 2024, subject to the satisfaction of customary closing conditions. The foregoing description of the material terms of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement. A copy of the Underwriting Agreement is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

01. Other Events

Item 8.01. Other Events. A copy of the press release announcing the public offering and a copy of the press release announcing the pricing of the public offering are attached to this Current Report on Form 8-K as Exhibits 99.1 and 99.2, respectively.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 1.1 Underwriting Agreement, dated S eptember 24 , 2024, by and between BlackSky Technology Inc. and Oppenheimer & Co. Inc., as re presentative of the several underwriters named therein 5.1 Opinion of Wilson Sonsini Goodrich & Rosati, P.C. 23.1 Consent of Wilson Sonsini Goodrich & Rosati, P.C. (included in Exhibit 5.1) 99.1 Press Release of BlackSky Technology Inc. dated September 24 , 2024 , announcing the public offering 99.2 Press Release of BlackSky Technology Inc. dated September 2 5 , 202 4 , announcing the pricing of the public offering 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLACKSKY TECHNOLOGY INC. Dated: September 25, 2024 By: /s/ Henry Dubois Name: Henry Dubois Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR