Company: SATLW
Filing Date: 2025-02-14
Form Type: F-4
Source: 0001437749-25-004040
Chunk: 12

Company: Satellogic Inc.
Filing Date: 2025-02-14
Form: F-4
Chunk 12
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 $20.00 per share (the “PIPE Warrants”) and (v) 15,931,360 BVI Class A Ordinary Shares issuable upon conversion of warrants having an exercise price of $2.51635975 per share (the “Columbia Warrants”). Additionally, in April 2024, we issued $30,000,000 aggregate principal amount of Convertible Notes, which are convertible into an aggregate 25,000,000 BVI Class A Ordinary Shares. See “Description of Capital Stock”—“Comparison of Rights”—“Shares Reserved for Future Issuances” for additional information.

In connection with the Domestication, each BVI Class A Ordinary Share and BVI Class B Ordinary Share of Satellogic BVI that is issued and outstanding immediately prior to the Effective Time will automatically convert into one share of DE Class A Common Stock and DE Class B Common Stock, respectively, of Satellogic Delaware. Similarly, outstanding options, warrants, convertible notes and other rights to acquire Satellogic BVI shares will become options, warrants, convertible notes or rights to acquire the corresponding shares of stock of Satellogic Delaware, including our outstanding BVI Warrants, which will convert into DE Warrants. It will not be necessary for shareholders of Satellogic BVI who currently hold share certificates to exchange their existing share certificates for certificates of shares of common stock of Satellogic Delaware in connection with the Domestication. See “The Domestication”—“Domestication Share Conversion” below.

Reasons for the Domestication

Our Board of Directors believes that the Domestication will, among other things:

| ● | better position us to execute our realigned strategic focus on the U.S. market, including competing for U.S. government and allied contracts; |

| ● | provide legal, administrative and other similar efficiencies, as well as provide a basis for further efficiencies as we continue to simplify our overall corporate structure; |

| ● | relocate our jurisdiction of organization to one that is the choice of domicile for many publicly traded corporations, as there is an abundance of case law to assist in interpreting the General Corporation Law of the State of Delaware (the “DGCL”), and the Delaware legislature frequently updates the DGCL to reflect current technology and legal trends; |

| ● | provide a more favorable corporate environment which will help us compete more effectively with other publicly traded companies in raising capital and in attracting and retaining skilled, experienced personnel; |

| ● | relocate our jurisdiction of organization to one that has a body of law more familiar