EU Space Week - banner

Satellogic raises US $150M from former treasury secretary

Credit: Satellogic

Edinburgh / Washington, 20 January 2022.Satellogic announced that private equity firm, Liberty Strategic Capital, led by former U.S. Secretary of the Treasury, Steven Mnuchin, is investing US $150M into Earth imaging company Satellogic.

The funding will help to close a delayed merger with CF Acquisition Corp. V., a special purpose acquisition corporation for the company to go public.

The deal is expected to close mid-February. According to that, Mnuchin will become nonexecutive chairman of the board of directors of Satellogic. Liberty will receive 20,000,000 Class A ordinary shares of Satellogic at US $7.50 per share. It will also get 5,000,000 warrants with a strike price of US $10, and 15,000,000 warrants at a price of US $15 per share.

The investment will add to the US $100M private investment in public equity (PIPE) round announced in July. The PIPE was part of the merger with CF Acquisition Corp. V, which has been delayed multiple times. The stockholder vote to approve the proposed merger is to take place on 24th January.

Check Also

#SpaceWatchGL Opinion: What is the real annual generated revenue of the space industry? PART 1

Being part of a growing economy is where you want to be these days. And Space promises to be among one of the fastest growing sectors, with huge spillover potential into other industries. Currently, the space economy has been estimated to be at around 386 billion USD in revenue, and expectations predict it to be at 1 trillion USD by 2040. The outlook is attractive and moving within the space sector one could have the impression of booming space businesses. But are those numbers legitimate?