[Excerpt] Satellite Earth imagery specialist Satellogic is preparing to go public, announcing on Tuesday that it will be the latest in a string of space companies merging with SPACs.
Satellogic is merging with special purpose acquisition company CF Acquisition Corp. V – a SPAC sponsored by Cantor Fitzgerald that trades under the ticker CFV. The deal gives the space company a $1.1 billion equity valuation and is expected to close early in the fourth quarter, resulting in Satellogic listing on the Nasdaq under ticker SATL.
A SPAC or special purpose acquisition company raises capital in an initial public offering and uses the proceeds to purchase a private firm and take it public.
