Company: SATLW
Filing Date: 2025-03-25
Form Type: 424B3
Source: 0001437749-25-009180
Chunk: 70

Company: Satellogic Inc.
Filing Date: 2025-03-25
Form: 424B3
Chunk 70
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 BVI Articles (a copy of such Satellogic BVI Articles, as amended, being attached as Appendix A to this prospectus), pursuant to which the number of votes per BVI Class B Ordinary Share was increased from 1.463844005 to 1.472467906 in order to make the aggregate number of votes attributable to holders of BVI Class B Ordinary Shares equal to the aggregate number of votes attributable to the Liberty Shares. This amendment had the impact of reinforcing the voting power and control of Mr. Kargieman, and may result in the continuation of the aforementioned risks to stockholders.

We cannot predict whether the dual class structure of our common stock will result in a lower or more volatile market price of our BVI Class A Ordinary Shares or our DE Class A Common Stock (following the effectiveness of the Domestication) or in adverse publicity or other adverse consequences. For example, certain index providers have announced restrictions on including companies with multiple class share structures in certain of their indexes. S&P, Dow Jones and FTSE Russell have announced changes to their eligibility criteria for inclusion of shares of public companies on certain indices, including the S&P 500, pursuant to which companies with multiple classes of shares of common stock are excluded. In addition, several stockholder advisory firms have announced their opposition to the use of multiple class structures. As a result, the dual class structure of our common stock may cause stockholder advisory firms to publish negative commentary about our corporate governance practices or otherwise seek to cause us to change our capital structure. Any such exclusion from indices or any actions or publications by stockholder advisory firms critical of our corporate governance practices or capital structure could adversely affect the value and trading market of our BVI Class A Ordinary Shares or our DE Class A Common Stock.

In addition, our Convertible Notes are convertible in BVI Class A Ordinary Shares at a rate of 833.33 Class A Ordinary Shares per $1,000 principal amount of Convertible Notes (and, following the effectiveness of the Domestication, are convertible into DE Class A Common Stock), subject to certain customary anti-dilution provisions. As of March 21, 2025 the conversion of the Convertible Notes would result in the holder holding approximately 23.0% of our outstanding BVI Class A ordinary shares and 19.2% of the voting power of our BVI Ordinary Shares. Along with the significant voting power held by Mr. Kargieman, this would result in a significant concentration in the voting power of our BVI Ordinary