The area SPAC frenzy would possibly’ve died down, but it surely isn’t over: Earth commentary startup Satellogic is the most recent to go public by way of a merger with CF Acquisition Corp. V, a particular objective acquisition firm arrange by Cantor Fitzgerald. Satellogic already has 17 satellites in orbit, and goals to scale its constellation to over 300 satellites to supply sub-meter decision imaging of the Earth up to date on a day by day frequency.
The SPAC deal values the corporate at $850 million, and features a PIPE value $100 million with funds contributed by SoftBank’s SBLA Advisers Group and Cantor Fitzgerald. It assumes income of round $800 million for the mixed firm by 2025, and Satellogic expects to have a money stability of round $274 million ensuing from the deal at shut.
Satellogic has raised a complete of just below $124 million since its founding in 2010, from buyers together with Tencent, Pitanga Fund and others. The corporate claims its satellites are the one ones that may present imaging on the decision it presents with a price ticket that continues to be comparatively inexpensive for industrial shoppers.