BlackSky Technology Inc. announced the pricing of an underwritten public offering of 10,000,000 shares of its Class A common stock at a price of $4.00 per share. All shares in the offering are being sold by BlackSky.
The gross proceeds to BlackSky from the offering are expected to be approximately $40 million, before deducting underwriting discounts and commissions and other offering expenses. The offering is expected to close on or about September 26, 2024.
BlackSky also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock. This capital raise provides funding for the company but also results in shareholder dilution.
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