Satellogic Inc. Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>Satellogic Inc. has submitted its 20-F annual report detailing its 2023 fiscal year performance and financial standing.</b>

AI Summary

Satellogic Inc. (SATLW) filed a Foreign Annual Report (20-F) with the SEC on April 15, 2024. Satellogic Inc. filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data points and share information for the fiscal year 2023 are detailed. Comparative data for previous fiscal years, including 2022 and 2021, is included. The report includes information on various share classes, including Common Class A and Common Class B, as well as warrants.

Why It Matters

For investors and stakeholders tracking Satellogic Inc., this filing contains several important signals. This 20-F filing provides a comprehensive overview of Satellogic's financial health and operational status for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed financial disclosures and share information within the report are essential for stakeholders to understand the company's capital structure, equity, and any potential dilution factors.

Risk Assessment

Risk Level: medium — Satellogic Inc. shows moderate risk based on this filing. The filing is a standard annual report (20-F), which typically contains a mix of positive and negative information, and does not inherently signal a significant shift in risk profile without further analysis of its contents.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F filing to make informed investment decisions regarding Satellogic Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-15 — Filing Date (Filed as of date)
• 2023-01-01 — Fiscal Year Start (Reporting period start date)
• 2022-12-31 — Prior Year End (Comparative period)
• 2021-12-31 — Prior Year End (Comparative period)

Key Players & Entities

• Satellogic Inc. (company) — Filer of the 20-F report
• 2023-12-31 (date) — Conformed period of report
• 2024-04-15 (date) — Filed as of date
• 0001874315 (company) — Central Index Key for Satellogic Inc.
• 3663 (industry) — Standard Industrial Classification for Radio & TV Broadcasting & Communications Equipment
• 210 DELBURG STREET (address) — Business and Mail Address
• 1-206-313-4516 (phone) — Business Phone Number
• USD (currency) — Currency used in financial reporting

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-04-15: Filing Date — Date the 20-F report was officially submitted to the SEC.

Key Financial Figures

• $8.63 — ng terms shall be defined as follows: "$8.63 Warrants" means warrants to purchase Cl
• $11.50 — , when issued, had an exercise price of $11.50 which was reduced pursuant to the terms
• $0.0001 — ans Class A ordinary shares , par value $0.0001 per share. "Class B ordinary shares" m
• $20.00 — ordinary shares at a purchase price of $20.00 per share. "Promissory Note Waiver Let
• $30 million — "Secured Convertible Notes" means the $30 million in aggregate principal amount of floati

Filing Documents

• satl-20231231.htm (20-F) — 2487KB
• a20-fexhibit81xlistofsubs.htm (EX-8.1) — 8KB
• a20-fexhibit121xceocert.htm (EX-12.1) — 10KB
• a20fexhibit122-cfocert.htm (EX-12.2) — 10KB
• exhibit131-ceocert.htm (EX-13.1) — 7KB
• a20fexhibit132-cfocert.htm (EX-13.2) — 8KB
• a20fexhibit151-consent.htm (EX-15.1) — 5KB
• a20f-exhibit152xconsent.htm (EX-15.2) — 6KB
• exhibit971-clawbackpolicy.htm (EX-97.1) — 33KB
• satl-20231231_g1.jpg (GRAPHIC) — 775KB
• satl-20231231_g2.jpg (GRAPHIC) — 61KB
• satl-20231231_g3.jpg (GRAPHIC) — 63KB
• satl-20231231_g4.jpg (GRAPHIC) — 67KB
• 0001628280-24-016229.txt (&nbsp;) — 13295KB
• satl-20231231.xsd (EX-101.SCH) — 83KB
• satl-20231231_cal.xml (EX-101.CAL) — 91KB
• satl-20231231_def.xml (EX-101.DEF) — 403KB
• satl-20231231_lab.xml (EX-101.LAB) — 808KB
• satl-20231231_pre.xml (EX-101.PRE) — 637KB
• satl-20231231_htm.xml (XML) — 1378KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 102 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 102 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 103 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 103 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 103 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 104 ITEM 16B. CODE OF ETHICS 104 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 104 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 105 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 105 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 105 ITEM 16G. CORPORATE GOVERNANCE 105 ITEM 16H. MINE SAFETY DISCLOSURE 112 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 112 PART III 114 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 114 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 114 ITEM 19. EXHIBITS 115

SIGNATURES

SIGNATURES 118 1 Table of Contents DEFINED TERMS Unless defined elsewhere in this report (this "Report"), the following terms shall be defined as follows: "$8.63 Warrants" means warrants to purchase Class A ordinary shares at an exercise price of $8.63 per share which warrants, when issued, had an exercise price of $11.50 which was reduced pursuant to the terms of the warrants consisting, as of the issuance date, of (a) 8,333,333 Public Warrants, (b) 333,333 warrants issued to Sponsor in exchange for CF V warrants purchased by Sponsor pursuant to the Forward Purchase Contract and (c) 200,000 warrants issued to Sponsor in exchange for warrants purchased by Sponsor in a private placement in connection with the Merger transaction. "Board" means the board of directors of Satellogic Inc. "Borrower" means Nettar Group Inc., a subsidiary of the Company. "BVI" means the British Virgin Islands. "BVI Act" means the BVI Business Companies Act, (As Revised). "Cantor" means Cantor Fitzgerald L.P., a Delaware limited partnership and an affiliate of the Sponsor, CF&Co. and, prior to the consummation of the Merger, CF V. "CF V" means CF Acquisition Corp. V, a Delaware corporation, now known as "Satellogic V Inc." "CF&Co." means Cantor Fitzgerald & Co., a New York general partnership and an affiliate of the Sponsor. "CF Securities" means Cantor Fitzgerald Securities, a New York general partnership and an affiliate of the Sponsor. "Class A ordinary shares" means Class A ordinary shares , par value $0.0001 per share. "Class B ordinary shares" means Class B ordinary shares , par value $0.0001 per share. "Closing" means the closing of the Merger. "Code" means the Internal Revenue Code of 1986, as amended. "Company" means Satellogic Inc. "Company Governing Documents" means the Memorandum and Articles of Association of the Company, as amended. "Columbia Loan" means the Loan and Security Agreement, dated March 8, 2021, by and between Columbia River Investment Limite

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable. 6 Table of Contents

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. RESERVED Not applicable. B. Capitalization and Indebtedness. Not applicable. C. Reasons for the Offer and Use of Proceeds. Not applicable. D. Risk Factors An investment in our securities carries a significant degree of risk. Readers should carefully consider the following risks and other information in this Report, including our Consolidated Financial Statements and related notes included elsewhere in this Report. Additional risks and uncertainties of which we are not presently aware or that we currently deem immaterial could also affect our business operations and financial condition. If any of these risks actually occur, our business, financial condition, results of operations or prospects could be materially affected. As a result, the trading price of our securities could decline and an investor could lose part or all of their investment. Unless otherwise indicated or the context otherwise requires, references in this section to "we," "our," "us," "the Company" and similar terms are to Nettar Group Inc. (d/b/a Satellogic) before the Merger and to Satellogic Inc. after the Merger. Summary Risk Factors If we do not generate revenue as expected, our financial condition will be materially and adversely affected. The success of our business will be highly dependent on our ability to effectively market and sell our products and services and to convert contracted revenues, which can be a costly process. The loss of one or more of our largest customers could adversely affect our results of operations. Our sales efforts involve considerable time and expense, and our sales cycle is long and unpredictable. We may face risks and uncertainties associated with defense-related contracts, which may have a material adverse effect on our business. Our pricing structure may not be optimal and may require adjustments over time. If we are unable to scale production of our satellites, our business could be materially and adversely affect

View Full Filing

View this 20-F filing on SEC EDGAR