Jul 6, 2021

Satellogic to public through SPAC deal - SpaceNews


by Jeff Foust — July 6, 2021 Satellogic, which has 13 operational imaging satellites and four more launched last week, says the funding from its SPAC merger will allow it to build out a 300-satellite constellation by 2025. Credit: Satellogic

Updated 5:30 p.m. Eastern to revise location of company headquarters.

WASHINGTON — Earth imaging company Satellogic announced July 6 it will go public through a merger with a special purpose acquisition company (SPAC), raising the funding it needs to build out a constellation of 300 spacecraft.

Satellogic said it will merge with CF Acquisition Corp. V, a SPAC sponsored by financial firm Cantor Fitzgerald. The SPAC holds $250 million in cash after going public on the Nasdaq exchange in February, and an additional $100 million will come from a current funding round known as private investment in public equity.



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