...the who's who,
and the what's what 
of the space industry

Space Careers

news Space News

Search News Archive

Title

Article text

Keyword

  • Home
  • News
  • Liberty Strategic Capital to invest $150 Million in Satellogic and CF Acquisition Corp V

Liberty Strategic Capital to invest $150 Million in Satellogic and CF Acquisition Corp V

Written by  Wednesday, 19 January 2022 05:49
Write a comment
New York NY (SPX) Jan 19, 2022
Satellogic, a leader in sub-meter resolution satellite imagery collection, currently 70 centimeters, and CF Acquisition Corp., a special purpose acquisition company sponsored by Cantor Fitzgerald, announced that they have secured an additional $150 million private placement commitment from Liberty Strategic Capital ("Liberty"), a private equity firm founded and led by former U.S. Secretary of th

Satellogic, a leader in sub-meter resolution satellite imagery collection, currently 70 centimeters, and CF Acquisition Corp., a special purpose acquisition company sponsored by Cantor Fitzgerald, announced that they have secured an additional $150 million private placement commitment from Liberty Strategic Capital ("Liberty"), a private equity firm founded and led by former U.S. Secretary of the Treasury Steven T. Mnuchin.

This investment brings the total committed capital coming into Satellogic in this series of transactions to more than $265 million, building on the previously announced PIPE offering of $100 million led by SoftBank's SBLA Advisers Corp. and Cantor Fitzgerald, among other top-tier institutional investors. Cantor Fitzgerald has increased its PIPE participation to approximately $58 million from the previously disclosed amount of $33 million.

Both the Liberty and SoftBank SBLA Advisers Corp. placements are subject to lock-up provisions for a minimum of a year. The capital will further position Satellogic to remap the entire surface of the Earth in sub-meter resolution, creating unprecedented data analytics and commercial applications within its $140 billion Total Addressable Market ("TAM").

In connection with Liberty's investment in Satellogic, Secretary Mnuchin will join Satellogic's Board of Directors as Non-Executive Chairman. Chairman and CEO of Cantor Fitzgerald and CFV Howard Lutnick will also join the Board of Directors.

Secretary Mnuchin, Founder and Managing Partner of Liberty, said, "It is hard to overstate the importance of up-to-date, high resolution Earth imagery as an aid to decision making across a broad variety of contexts. As Satellogic builds out its network to provide daily remaps of the Earth's surface at a low cost, we believe the company is well positioned to provide governments and businesses with the information they need to make better, more well-informed decisions with respect to a host of pressing problems. We are excited to partner with Satellogic as they continue to innovate in this exciting and growing market."

Emiliano Kargieman, CEO of Satellogic, said, "We are thrilled to welcome Secretary Mnuchin and Howard Lutnick to the Satellogic Board of Directors, and Liberty and its investors to our ownership as a public company. This transaction is a significant step towards our plan of daily sub-meter resolution world remaps ready to address vast and affordable commercial applications."

Howard W. Lutnick, Chairman and CEO of Cantor Fitzgerald and CFV, stated, "I'm excited Secretary Mnuchin and the team at Liberty share our enthusiasm for the enormous value Satellogic's massive data capacity unlocks. Satellogic's low-earth images will bring unique data sets and global analytics to the private sector and governments world-wide."

The proposed merger with CFV is projected to close in the first quarter of 2022. Liberty's investment in Satellogic is expected to close in mid-February after the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.


Related Links
Satellogic
The latest information about the Commercial Satellite Industry

Tweet

Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Monthly Supporter
$5+ Billed Monthly

SpaceDaily Contributor
$5 Billed Once

credit card or paypal



SPACEMART
Palomar survey instrument analyzes impact of Starlink satellites
Pasadena CA (SPX) Jan 18, 2022
Since 2019, SpaceX has been launching an increasing number of internet satellites into orbit around Earth. The satellite constellation, called Starlink, now includes nearly 1,800 members orbiting at altitudes of about 550 kilometers. Astronomers have expressed concerns that that these objects, which can appear as streaks in telescope images, could hamper their scientific observations. To quantify these effects, a team of researchers studied archival images captured by the National Science Foundati ... read more


Read more from original source...

You must login to post a comment.
Loading comment... The comment will be refreshed after 00:00.

Be the first to comment.

Interested in Space?

Hit the buttons below to follow us...