Company: SATLW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001628280-25-014951
Chunk: 71

Company: Satellogic Inc.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 13
Chunk 71
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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Related Party Transactions

We are party to that certain Investment Agreement, dated May 6, 2022, by and between the Company and OS, pursuant to which the Company purchased 5% of OS’s outstanding common shares for $3.7 million and OS issued 524,715 stock warrants to the Company, giving the Company the right to convert each warrant into a single common share over a period of up to 36 months. Additionally, on January 17, 2022, we entered into a master supply agreement with OS aimed at regulating the terms and conditions under which we will purchase from OS, and OS will sell or provide to the us, certain products and ancillary services to be integrated into our satellites. We made purchases totaling $1.3 million from OS in the year ended December 31, 2024 and there was $0.9 million owed to OS and included in accounts payable at December 31, 2024. We made purchases totaling $1.8 million from OS in the year ended December 31, 2023 and there was $0.3 million owed to OS and included in accounts payable at December 31, 2023. Emiliano Kargieman, our Chief Executive Officer, is a member of the OS board of directors. 

We are a party to that certain Note Purchase Agreement, dated April 12, 2024, by and among the Company, Nettar, the Holder Representative and the purchaser identified therein (the “Note Purchase Agreement”), pursuant to which Nettar agreed to issue the Secured Convertible Notes to the purchaser. CF&Co. served as the Company’s financial advisor in connection with the offering and sale of the Secured Convertible Notes. CF&Co. is controlled by Cantor Fitzgerald, L.P., which beneficially owns more than 10% of our Class A common stock. Pursuant to a letter agreement executed in connection with the Note Purchase Agreement, CF&Co received a fee equal to $0.9 million after the closing of the Secured Convertible Notes. Howard Lutnick, a former member of the Company’s Board who elected to resign from the Board, effective November 25, 2024, is the former Chief Executive Office of CF&Co. See Note 16 (Related Parties) to the Consolidated Financial Statements included in Item 8 (Financial Information) for further information