Argentinian Satellite Data Company to Go Public with Cantor Fitzgerald SPAC


Argentinian Satellite Information Business to Go Public with Cantor Fitzgerald SPAC

Satellogic, a Buenos Aires-based firm that utilizes satellites to map the planet, intends to go public after a merging with Cantor Fitzgerald’s blank-check firm.

The bargain would certainly provide the company a venture worth of $850 million and also enable it to increase its network of satellites from 17 to greater than 300 by 2025, according to a declaration. The firm supplies geospatial information and also high-resolution pictures to federal governments and also customers in the forestry, insurance policy, power and also farming fields.

“The merger will allow us to continue building out our constellation of satellites and maintain our position as a global leader in sub-meter imagery,” claimed Emiliano Kargieman, Satellogic’s founder and also ceo.

Unique function procurement firms such as the one run by Cantor Fitzgerald– blank-check firms that attach exclusive organizations to public resources markets– skyrocketed in appeal in 2020 and also very early 2021 and also have actually made up virtually half of this year’s document going public quantity in the UNITED STATE. Yet the market has actually cooled down in current weeks in the middle of conjecture it might be sustaining unwanteds, with the IPOX SPAC Index, which tracks the efficiency of a team of blank-check companies, down greater than 20% from its mid-February height.

Satellogic, which was backed by financiers such as Tencent Holdings Ltd., Pitanga Fund and also IDB Laboratory, will certainly trade on the Nasdaq under the ticker icon SATL. Softbank’s SBLA Advisers Corp. and also Cantor Fitzgerald were amongst financiers that dedicated to join the deal via a $100 million exclusive financial investment in public equity, or PIPELINE, according to the declaration. The deal is set up to be finished in the 4th quarter of 2021.

— With aid from Felipe Marques.

Picture: Satellite antennas stand at sundown in Bolivia. Image credit rating: Marcelo Perez del Carpio/Bloomberg.

Copyright 2021 Bloomberg.

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