Company: SATLW
Filing Date: 2025-04-10
Form Type: 424B5
Source: 0001437749-25-011569
Chunk: 47

Company: Satellogic Inc.
Filing Date: 2025-04-10
Form: 424B5
Chunk 47
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 corporate domestication and a certificate of incorporation of a Delaware corporation with the name “Satellogic Inc.,” as well as filed with the Registrar of Corporate Affairs in the BVI a notice of the Company’s continuance out of the BVI, pursuant to which we domesticated and are continuing as a Delaware corporation. On the effective date of the Domestication, each of our Class A Ordinary Shares, Class B Ordinary Shares and warrants to purchase our Class A Ordinary Shares automatically converted by operation of law, on a one-for-one basis, into shares of Class A Common Stock, Class B Common Stock and warrants to purchase Class A Common Stock, respectively.

Secured Convertible Notes

On April 12, 2024, the Company, Nettar, and Acquiom Agency Services LLC, as Holder Representative, entered into a Note Purchase Agreement with Tether Investments Limited (the “Notes Purchaser”), pursuant to which Nettar agreed to issue the Notes in the aggregate principal amount of $30 million to the Notes Purchaser. The net proceeds from the issuance of the Notes, after deducting transaction fees and other debt issuance costs, was approximately $27.6 million. The Notes initially bear interest at a rate of SOFR plus 6.50% per annum, subject to an additional 4.0% per annum if certain events of default occur and are continuing. The Notes are guaranteed by the Company and each of the Company’s material subsidiaries (other than Nettar), and are secured by substantially all of the Company’s and its subsidiaries’ assets (including all of its intellectual property). Nettar may issue additional Notes under the terms thereof, provided the aggregate principal outstanding amount does not exceed $50 million. The Notes mature on April 12, 2028.

The Notes are convertible into shares of the Company’s Class A Common Stock at an initial conversion price of $1.20 (or 833 shares of Class A Common Stock per $1,000 principal amount of Notes), subject to customary anti-dilution adjustments. The Company’s ability to settle conversions using the Company’s Class A Common Stock is subject to CFIUS approval. As of the date hereof, CFIUS approval has not been sought or obtained.

Implications of Being an“Emerging Growth Company”

The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As an “emerging growth company,” the Company may take advantage