Satellogic Announces $30 Million Strategic Investment from Tether Investments Limited
Satellogic Inc. (SATL)
Company Research
Source: Business Wire
$30 Million Secured Convertible Notes Provides Additional Operating Liquidity and Financial Flexibility NEW YORK--(BUSINESS WIRE)--Satellogic Inc. (NASDAQ: SATL) (“Satellogic” or the “Company”), a leader in sub-meter resolution Earth Observation (“EO”) data collection, today announced that Nettar Group, Inc. (the “Borrower”), a wholly-owned subsidiary of the Company, entered into a Note Purchase Agreement (the “Note Purchase Agreement”) led by Tether Investments Limited (the “Purchaser”), pursuant to which the Borrower agreed to issue floating rate secured convertible promissory notes in the aggregate principal amount of $30 million (the “Secured Convertible Notes”) to the Purchaser (the “Offering”). The net proceeds from the Offering, after deducting transaction fees and other debt issuance costs, were approximately $27.6 million. The Borrower has the ability to issue additional Secured Convertible Notes, provided the aggregate principal amount outstanding does not exceed $50 mill
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SATL
Sec Filings
- 4/16/24 - Form 6-K
- 4/15/24 - Form 20-F
- 4/12/24 - Form 6-K
- SATL's page on the SEC website