Welcome to our dedicated page for Satellogic news (Ticker: SATL), a resource for investors and traders seeking the latest updates and insights on Satellogic stock.
Satellogic Inc. (Symbol: SATL) is a leading provider of high-resolution satellite imagery catering to government and commercial clients worldwide. With operations spanning North America, Europe, Asia, and South America, Satellogic leverages its proprietary technology to deliver accurate and timely data for a variety of applications including agriculture, forestry, energy, and urban planning.
Founded with the vision to democratize access to space-based data, Satellogic has established strong partnerships, most notably with Tata Advanced Systems Limited. The company's recent achievements include launching multiple satellites to enhance its constellation, ensuring better global coverage and more frequent imaging capabilities.
Key Projects:
- New Satellite Launches: Continual expansion of their satellite fleet to provide high-quality imagery with improved revisit rates.
- Geospatial Analytics: Offering advanced analytics solutions to translate raw data into actionable insights for various sectors.
- Partnerships: Collaborations with leading aerospace and technology companies to integrate and enhance satellite data applications.
Financially, Satellogic derives a significant portion of its revenue from the Asia Pacific region, showcasing its strong market presence and demand in that geography. The company remains committed to innovation, expanding its product offerings, and maintaining its position as a key player in the satellite imagery industry.
Satellogic Inc. (NASDAQ: SATL) and Telespazio Brasil have secured a multi-year contract with the Brazilian Air Force (FAB) to provide low-latency satellite imagery for defense and security operations. The agreement includes an initial one-year term with a one-year extension option.
Under the contract, FAB will have access to Satellogic's NewSat constellation and Aleph platform, a self-service interface for scheduling and managing imagery collections. The service will provide sub-meter imagery for defense applications, including near real-time monitoring, change detection, and enhanced situational awareness for mission-critical decision-making.
The partnership enables FAB to directly control their geospatial intelligence capabilities, leading to faster and more effective operational decisions for territory security.
Maxar Intelligence and Satellogic (NASDAQ: SATL) have formed a strategic partnership through a tasking, data licensing and distribution agreement. The deal grants Maxar exclusive rights to task Satellogic's high-revisit satellite constellation for U.S. government and select international partner missions.
The collaboration combines Satellogic's frequent revisit capabilities with Maxar's 30 cm-class high-resolution imaging and AI technologies, creating a unique market offering. This integration enables simultaneous monitoring and change detection across multiple locations, with the ability to collect detailed imagery when needed.
The partnership enhances Maxar's virtual constellation capability by integrating complementary sensors for seamless collection, delivery, and analysis workflows, providing more comprehensive Earth observation data solutions for national security missions.
Satellogic Inc. (NASDAQ: SATL) has successfully closed a $10 million private placement, issuing 3,571,429 Class A Ordinary Shares to a single institutional investor at $2.80 per share. The company plans to use the proceeds for general corporate purposes.
Additionally, Satellogic has filed a shelf registration statement on Form F-3 for two purposes: to register the resale of the private placement shares and to enable the potential future issuance of up to $150 million in Class A Ordinary Shares. The shelf registration statement, once effective, will provide flexibility for future capital raising opportunities.
Satellogic (NASDAQ: SATL) has secured a $10 million private placement through the sale of 3,571,429 Class A Ordinary Shares at $2.80 per share to a single institutional investor. The transaction is expected to close by December 10, 2024. The company plans to use the proceeds for general corporate purposes, with a focus on advancing its U.S. strategy, National Security market, and global Space Systems opportunities.
The shares are being offered through a private placement under Section 4(a)(2) of the Securities Act, with Cantor Fitzgerald & Co. serving as placement agent. Satellogic has committed to filing a resale registration statement on Form F-3 with the SEC following the closing.
Satellogic (NASDAQ: SATL) has expanded its contract with SynMax, a U.S. satellite data analytics firm, to enhance SynMax's Hyperion platform. This expansion will triple SynMax's monitoring of oil and natural gas wellheads across North America to over 100, providing high-frequency, high-resolution imagery multiple times per week. The partnership aims to offer real-time insights into drilling rig and frac crew activity, aiding financial analysts and hedge funds in predicting short-term changes in oil and natural gas production. Satellogic's cost-effective satellite fleet offers a significant advantage over traditional monitoring methods. This collaboration supports SynMax's growing services in the financial sector, enabling global tracking of new wellheads. Both companies emphasize the importance of this partnership in delivering actionable insights for investment intelligence.
Satellogic Inc. (NASDAQ: SATL) has been selected as one of eight recipients for NASA's Commercial SmallSat Data Acquisition Program (CSDA) On-Ramp1 Multiple Award contract. The contract, announced on September 6, 2024, has a maximum cumulative value of $476 million for all award winners. Satellogic will provide NASA with high-resolution multispectral imagery until November 15, 2028.
This collaboration aims to offer NASA a cost-effective solution for augmenting Earth observation data, important for understanding climate change, monitoring environmental trends, and improving applications that benefit humanity. The CSDA program leverages the commercial space sector to enhance NASA's ability to gather Earth observation data efficiently and affordably.
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation data, has announced significant changes to its Board of Directors. Kelly Kennedy, a seasoned financial executive with over 30 years of experience, has been appointed to the board and will chair the Audit Committee, effective September 3, 2024. Kennedy, currently CFO at Willow Innovations, brings extensive expertise in finance, operations, and strategic growth.
Simultaneously, Brad Halverson has retired from his position on the Board of Directors and as chair of the Audit Committee, also effective September 3, 2024. Halverson, who joined the board in 2022, provided valuable financial and operational leadership during his tenure.
Satellogic Inc. (NASDAQ: SATL) has joined the Global Data Marketplace (GDMP) as a commercial vendor, enhancing access to federal agencies and partners, including the US Space Force. The GDMP streamlines data acquisition, allowing immediate interaction, payment, and anonymous data acquisition. This move aligns with the US Government's efforts to modernize procurement and reduce barriers for commercial providers. Satellogic's participation marks a significant step towards becoming a important partner for US and international agencies.
Satellogic Inc. (NASDAQ: SATL) has released a large open dataset of high-resolution imagery to support the training of foundation models for Earth Observation. The dataset contains 6 million images, including location revisits, totaling 900 Gigapixels. This dataset aims to accelerate the development of Earth Observation AI models by providing real-time imagery of the planet. Satellogic data is available for commercial use under a Creative Commons license, with a paper and baseline foundation model to be published.
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