Company: SATLW
Filing Date: 2025-03-25
Form Type: 424B3
Source: 0001437749-25-009180
Chunk: 126

Company: Satellogic Inc.
Filing Date: 2025-03-25
Form: 424B3
Chunk 126
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ers Who Own 10 Percent or More (By Vote or Value) of Satellogic Shares” above relating to a U.S. Holder’s ownership of BVI Warrants being taken into account in determining whether such U.S. Holder is a 10% U.S. Shareholder for purposes of Section 367(b) of the Code, and the considerations described below under the section entitled “— PFIC Considerations” relating to the PFIC rules, a U.S. Holder of BVI Warrants generally should not be subject to U.S. federal income tax with respect to the conversion of its BVI Warrants into DE Warrants in the Domestication.

Following the Domestication, Holders of DE Warrants will hold warrants to acquire DE Common Stock. The terms of each DE Warrant will provide for an adjustment to the number of shares of DE Common Stock for which the DE Warrant may be exercised or to the exercise price of the DE Warrant in certain events. An adjustment which has the effect of preventing dilution generally is not a taxable event. Nevertheless, a U.S. Holder of DE Warrants may be treated as receiving a constructive distribution from the Company if, for example, the adjustment increases the holder’s proportionate interest in the Company’s assets or earnings and profits (e.g., through an increase in the number of shares of DE Common Stock that would be obtained upon exercise or through a decrease in the exercise price of the DE Warrants), including as a result of a distribution of cash or other property to the holders of shares of DE Common Stock which is taxable as a distribution to the Holders of such shares. Any constructive distribution received by a U.S. Holder of DE Warrants would be subject to tax in the same manner as if such U.S. Holder received a cash distribution from the Company equal to the fair market value of such increased interest. Generally, a U.S. Holder’s adjusted tax basis in its DE Warrant would be increased to the extent any such constructive distribution is treated as a dividend for tax purposes.

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PFIC Considerations

Regardless of whether the Domestication qualifies as an F Reorganization (and, if the Domestication qualifies as an F Reorganization, in addition to the discussion under the section entitled “— Effects of Section 367 to U.S. Holders of Ordinary Shares” above), the Domestication could be a taxable event to U.S. Holders under the PFIC provisions of the Code if Satellogic is considered a PF