Osprey Technology Acquisition Corp. (NYSE:SFTW) announced in an 8-K filing today that its shareholders approved its combination with satellite imaging company BlackSky Holdings, Inc. in a meeting held earlier today.
The filing disclosed that 21,375,376 shares were redeemed for a pro rata portion of the funds in the trust account at approximately $10.05 per share. As a result, approximately $214,906,385.05 million, or 65.9%, will be removed from the trust to pay the shareholders. SFTW saw high volume today with 3,082,404 shares traded throughout the day, representing approximately $30 million+ or 1/3 of the public float. SFTW closed today at $10.40.
Holders of 26,572,450 shares of SFTW’s stock were present at the meeting, representing 67.22% of the voting power. The business combination was overwhelmingly approved as it received 26,398,002 votes in favor of the proposal.
Although the 8-K did not give an exact timeline on the closing of the transaction, Osprey Technology expects it to be completely promptly. The company is expected to remain listed on the New York Stock Exchange with its common stock and warrants trading under the new ticker symbol “BKSY” and “BKSY.W” respectively.
The parties initially announced their $1.106 billion deal on February 18. Herndon V.A. based BlackSky is a a real-time Earth observation company leveraging the innovative performance and economics of small satellite constellations to deliver high revisit global monitoring solutions.
Just yesterday, BlackSky was awarded a five year contract by the National Geospatial-Intelligence Agency valued at $30 million.
ADVISORS
- Credit Suisse Securities (USA) LLC is acting as lead financial advisor and as capital markets advisor to BlackSky
- Credit Suisse Securities (USA) LLC acted as lead placement agent and Moelis & Company LLC also acted as placement agents in connection with the PIPE offering
- Moelis & Company LLC is acting as lead financial advisor and Union Square Advisors LLC is acting as capital markets and strategic advisor to Osprey
- PJT Partners LP is one of BlackSky’s financial advisors and a placement agent with respect to this transaction
- Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal advisor to BlackSky
- Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Osprey
- Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Credit Suisse Securities (USA) LLC
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...