An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
BlackSky (NYSE: BKSY) filed an S-1 Registration Statement with the SEC to register for resale 18.8 million PIPE shares and approximately 24.1 million shares underlying warrants, which represent less than 16% of total fully diluted outstanding shares. The warrant exercise prices exceed the current trading price for BKSY stock. This move is seen as a step to meet contractual obligations with Osprey Technology Acquisition Corp. and fulfill stockholder expectations.
Positive
S-1 filing allows for resale of previously issued shares, enhancing liquidity.
Registration of 18.8 million PIPE shares and 24.1 million warrant shares supports trading activities.
Negative
Warrant exercise prices of $11.50 and $20 exceed current stock price, limiting immediate investor benefits.
Potential dilution concerns arise from registering a significant number of shares.
HERNDON, Va.--(BUSINESS WIRE)--
BlackSky (NYSE: BKSY) filed its S-1 Registration Statement with the Securities and Exchange Commission (SEC) to register for resale certain previously issued securities and shares underlying previously issued equity awards. No new share issuances are being made as part of this S-1.
The S-1 includes registration of 18.8 million PIPE shares, which would allow these previously issued shares to be tradeable. The S-1 also registers approximately 24.1 million shares underlying warrants, which equates to less than 16 percent of the total fully diluted outstanding shares. While these warrants are now exercisable, the exercise prices (of either $11.50 per share or $20 per share depending on the class) both currently exceed the trading price for BlackSky’s stock.
The remainder of the shares under the S-1 are previously registered shares of affiliates or former service providers that are subject to lockup until at least the middle of Q1 2022.
“This is an important step for BlackSky in satisfying certain contractual requirements with Osprey Technology Acquisition Corp. and meeting the expectations of our stockholders as previously disclosed in our S-4 filing,” said Brian E. O’Toole, CEO of BlackSky.
For more detail on the shares and warrants, please see the S-1 available on BlackSky’s investor relations webpage or the SEC’s website.
About BlackSky Technology Inc.
BlackSky (NYSE: BKSY) 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 data elements daily from its constellation as well as a variety of space, IoT, and terrestrial-based sensors and data feeds. 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, Spectra AI, is powered by cutting-edge compute techniques including machine learning, artificial intelligence, computer vision, and natural language processing. BlackSky’s global monitoring solution is available via a simple subscription and requires no IT infrastructure or setup.
What does the S-1 Registration Statement for BKSY entail?
The S-1 Registration Statement filed by BlackSky allows for the resale of 18.8 million PIPE shares and approximately 24.1 million shares underlying warrants.
How many shares are registered under BlackSky's S-1?
The S-1 registers 18.8 million PIPE shares and about 24.1 million shares underlying warrants.
What is the current status of BlackSky's shares and warrants?
The exercise prices for the warrants exceed the current trading price of BKSY stock, which may affect their attractiveness.
Why did BlackSky file the S-1 Registration Statement?
The filing aims to meet contractual obligations with Osprey Technology Acquisition Corp. and fulfill stockholder expectations.
When will the shares registered in the S-1 be available for trading?
The shares are tradeable now; however, some former service provider shares are subject to lockup until at least mid-Q1 2022.
