Class A Common Stock Expected to Begin
Trading on Reverse Split-Adjusted Basis on September 9,
2024
BlackSky Technology Inc. (“BlackSky”) (NYSE: BKSY), today
announced that its Board of Directors has approved a 1-for-8
reverse stock split (the “Reverse Stock Split”) of BlackSky’s Class
A common stock, par value $0.0001 per share (the “Class A Common
Stock”). The Reverse Stock Split was approved by BlackSky’s
stockholders at BlackSky’s annual meeting of stockholders held
virtually earlier today. The Reverse Stock Split will be effective
at 4:15 p.m. Eastern Time on September 6, 2024, and the Class A
Common Stock will open for trading on the New York Stock Exchange
(the “NYSE”) on a reverse split-adjusted basis on September 9,
2024, under the existing trading symbol “BKSY.”
The new CUSIP number of the Class A Common Stock following the
Reverse Stock Split will be 09263B 207. BlackSky’s publicly traded
warrants will continue to be traded on the NYSE under the symbol
“BKSY.W,” and the CUSIP number for the publicly traded warrants
will remain unchanged.
At the effective time of the Reverse Stock Split, every eight
shares of issued Class A Common Stock will be automatically
reclassified into one new share of Class A Common Stock. The
Reverse Stock Split will not change the number of authorized shares
of Class A Common Stock or BlackSky’s preferred stock. The par
value per share of the Class A Common Stock will also remain
unchanged at $0.0001.
As a result of the Reverse Stock Split, proportionate
adjustments will be made to the per share exercise price and the
number of shares issuable upon the exercise or settlement of all
outstanding BlackSky options and restricted stock units to purchase
shares of Class A Common Stock, and the number of shares reserved
for issuance pursuant to BlackSky’s equity incentive plans will be
reduced proportionately. In addition, proportionate adjustments
will be made to BlackSky’s outstanding warrants, resulting in each
publicly traded warrant becoming exercisable for 1/8th of a share
of Class A Common Stock at an exercise price of $92.00 per whole
share.
No fractional shares will be issued in connection with the
Reverse Stock Split. Stockholders who would otherwise be entitled
to receive fractional shares as a result of the Reverse Stock Split
will be entitled to a cash payment (without interest) in lieu
thereof at a price equal to the number of shares of Class A Common
Stock held by such stockholder before the Reverse Stock Split that
would otherwise have been exchanged for such fractional share
interest multiplied by the closing price per share of the Class A
Common Stock on the NYSE on September 6, 2024, the date of the
effective time of the Reverse Stock Split.
Continental Stock Transfer & Trust Company is acting as
transfer and exchange agent for the Reverse Stock Split. Registered
stockholders who hold shares of Class A Common Stock are not
required to take any action to receive post-reverse split shares.
Stockholders owning shares via a broker, bank, trust or other
nominee will have their positions automatically adjusted to reflect
the Reverse Stock Split, subject to such broker’s particular
processes, and will not be required to take any action in
connection with the Reverse Stock Split.
Additional information about the Reverse Stock Split can be
found in BlackSky’s definitive proxy statement filed with the
Securities and Exchange Commission (the “SEC”) on July 25, 2024,
which is available free of charge at the SEC’s website,
www.sec.gov, and on BlackSky’s website at:
https://ir.blacksky.com.
About BlackSky
BlackSky is a real-time, space-based intelligence company that
delivers on-demand, high-frequency imagery, analytics, and
high-frequency monitoring of the most critical and strategic
locations, economic assets, and events in the world. BlackSky owns
and operates one of the industry’s most advanced, purpose-built
commercial, real-time intelligence systems that combines the power
of the BlackSky Spectra® tasking and analytics software platform
and our proprietary low earth orbit satellite constellation.
With BlackSky, customers can see, understand and anticipate
changes for a decisive strategic advantage at the tactical edge,
and act not just fast, but first. BlackSky is trusted by some of
the most demanding U.S. and international government agencies,
commercial businesses, and organizations around the world. BlackSky
is headquartered in Herndon, VA, and is publicly traded on the New
York Stock Exchange as BKSY. To learn more, visit www.blacksky.com
and follow us on X (Twitter).
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws with respect to
BlackSky. These forward-looking statements generally are identified
by the words “believe,” “project,” “expect,” “anticipate,”
“estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,”
“may,” “should,” “will,” “would,” “will be,” “will continue,” “will
likely result,” and similar expressions. Forward-looking statements
are predictions, projections, and other statements about future
events that are based on current expectations and assumptions and,
as a result, are subject to risks and uncertainties. Many factors,
including, without limitation, our ability to complete the Reverse
Stock Split, could cause actual future events or results to differ
materially from those expressed or implied by the forward-looking
statements in this document. If any of these risks materialize or
underlying assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking
statements. In addition, forward-looking statements reflect our
expectations, plans, or forecasts of future events and views as of
the date of this communication, and subsequent events and
developments could cause our assessments to change. Accordingly,
forward-looking statements should not be relied upon as
representing our views as of any subsequent date, and we do not
undertake any obligation to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
Additional risks and uncertainties are identified and discussed in
BlackSky’s disclosure materials filed from time to time with the
SEC which are available at the SEC’s website at www.SEC.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240904012067/en/
Investor Contact Aly Bonilla VP, Investor Relations
abonilla@blacksky.com 571-591-2864
Media Contact Pauly Cabellon Senior Director, External
Communications pcabellon@blacksky.com 571-591-2865
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