Company: SATLW
Filing Date: 2025-10-16
Form Type: 424B5
Source: 0001437749-25-031167
Chunk: 43

Company: Satellogic Inc.
Filing Date: 2025-10-16
Form: 424B5
Chunk 43
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 are achieving over 60x better unit economics than our closest peers in the NewSpace sector and more than 100x better unit economics than legacy competitors. Additionally, we believe we are well-positioned to compete effectively in the existing EO market that is currently supply-constrained and consists primarily of government and defense and intelligence customers. At December 31, 2024, we had 23 commercial satellites in orbit. As of the date of this prospectus, we have 22 satellites in orbit, of which 20 are operational and two are being used for testing. Over the near term, we will take a measured approach to expanding our constellation, with our long-term vision to reach a constellation size of approximately 200 satellites and to have the capability to conduct daily remaps of the entire planet.

Our strategy is focused along three distinct business lines: Asset Monitoring, CaaS, and Space Systems. These business lines will allow us to serve the existing EO market and begin to democratize access to a host of new EO customers.

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Recent Developments

Domestication

On March 26, 2025, we filed with the Secretary of State of the State of Delaware a certificate of 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.