Company: SATLW
Filing Date: 2025-03-25
Form Type: 424B3
Source: 0001437749-25-009180
Chunk: 20

Company: Satellogic Inc.
Filing Date: 2025-03-25
Form: 424B3
Chunk 20
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actually or constructively) less than 10% of the total combined voting power of all classes of the Company’s shares entitled to vote and less than 10% of the total value of all classes of the Company’s shares generally will recognize gain (but not loss) on the conversion of ordinary shares into DE Common Stock pursuant to the Domestication. As an alternative to recognizing gain, such U.S. holder may file an election to include in income as a deemed dividend the “all earnings and profits amount” (as defined in the Treasury Regulations under Section 367 of the Code) attributable to its ordinary shares, provided certain other requirements are satisfied; and |

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| ● | A U.S. Holder who owns (actually or constructively) 10% or more of the total combined voting power of all classes of the Company’s shares entitled to vote or 10% or more of the total value of all classes of the Company’s shares generally will be required to include in income as a deemed dividend the “all earnings and profits amount” attributable to its ordinary shares. |

The Company does not expect to have significant cumulative earnings and profits, if any, on the date of the Domestication. Notwithstanding the U.S. federal income tax consequences of the Domestication discussed above, if the Company is classified as a PFIC, proposed Treasury Regulations under Section 1291(f) of the Code (which have a retroactive effective date), if finalized in their current form, generally would require a U.S. Holder to recognize gain on the conversion of BVI Ordinary Shares or BVI Warrants into DE Common Stock or DE Warrants pursuant to the Domestication unless, in the case of BVI Ordinary Shares, such U.S. Holder has made certain tax elections with respect to such shares. A U.S. Holder cannot currently make the aforementioned elections with respect to warrants, and the application of the PFIC rules to the warrants is unclear. We believe that we have not been classified as a PFIC in 2024 or in any prior taxable year. Whether or not we are PFIC for a taxable year will depend on the composition of our income and assets during such taxable year and can only be determined at the end of the taxable year. Accordingly, no assurance can be provided with respect to our status as a PFIC for our current taxable year or in a future taxable year. For a more complete discussion of the potential application of the PFIC rules to U.S. Holders as a result of the