Company: SATLW
Filing Date: 2025-02-14
Form Type: F-4
Source: 0001437749-25-004040
Chunk: 115

Company: Satellogic Inc.
Filing Date: 2025-02-14
Form: F-4
Chunk 115
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 not constitute “interested stockholders” for purposes of the above. |

| (1) | The Satellogic BVI Articles and the BVI Companies Act permit the Board of Directors to amend the Satellogic BVI Articles, except that the BVI Companies Act prohibits the Board of Directors from restricting the rights or powers of the shareholders to amend the Satellogic BVI Articles, or changing the percentage of shareholders required to pass a resolution to amend the memorandum or articles. This power, unlike Delaware law, gives the board wide discretion in changing many provisions of the memorandum and articles of association without shareholder approval. |

Delaware Anti-Takeover Laws and the Satellogic Delaware Certificate of Incorporation and bylaws

The Satellogic Delaware certificate of incorporation and bylaws will contain provisions that may prevent or discourage a third party from acquiring Satellogic Delaware, even if the acquisition would be beneficial to its stockholders. For instance, upon effectiveness of the Domestication, the Board of Directors of Satellogic Delaware will have the authority to fix the rights, powers and preferences of shares of one or more series of preferred stock of Satellogic Delaware and to issue such shares without a stockholder vote. The Satellogic Delaware certificate of incorporation will further provide for a classified board, with the Board of Directors being divided into three classes (Class I, Class II, and Class II), with the initial Class I directors serving for a term expiring at the first annual meeting of stockholders following the initial date of the Satellogic Delaware certificate of incorporation, the initial Class II directors serving for a term expiring at the second annual meeting of stockholders following the initial date of the Satellogic Delaware certificate of incorporation, and the initial Class III directors serving for a term expiring at the third annual meeting of stockholders following the initial date of the Satellogic Delaware certificate of incorporation. This classified board structure will mean it will generally take two years to change the composition of the Board of Directors. Furthermore, Satellogic Delaware’s certification of incorporation will also provide that, with certain limited exceptions, that unless we consent in writing to an alternative forum, the Court of Chancery of the State of Delaware will be the sole and exclusive forum for any stockholder to bring certain actions. See “Risk Factors”—“Our Delaware certificate of incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stock