BlackSky plans public offering to support growth

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BlackSky plans public offering to support growth

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BlackSky plans public offering to support growth
by Clarence Oxford
Los Angeles CA (SPX) Sep 25, 2024

BlackSky Technology Inc. (NYSE: BKSY), a leading provider of real-time geospatial intelligence and monitoring services, has announced its intention to offer shares of its Class A common stock in a public sale. The company is positioning this move to raise additional capital as it continues to expand its satellite constellation and strengthen its data analytics platform.

All shares in the offering will be sold by BlackSky, with the company also giving underwriters a 30-day option to purchase up to an additional 15% of the shares. While the exact timing and size of the offering will depend on market conditions, BlackSky's decision underscores its commitment to scaling its operations and meeting increasing demand for real-time Earth observation data.

Oppenheimer and Co. and Lake Street Capital Markets will act as joint book-running managers for the offering, guiding the company through the process.

BlackSky has been at the forefront of utilizing satellite imagery for industries ranging from defense and government to commercial sectors. The company's technology focuses on delivering near real-time, AI-driven insights, a capability that has grown in importance for industries requiring actionable data for decision-making.

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