Company Continues Constellation Expansion to
Increase Capacity for First-to-Know Insights
BlackSky, a leading provider of real-time geospatial
intelligence and global monitoring services that recently announced
a planned business combination with Osprey Technology Acquisition
Corp. (NYSE: SFTW), today revealed it expects to launch two
satellites on Rocket Lab’s twentieth mission, “Running Out of
Toes.” The launch, which is scheduled to take place no earlier than
May 15, 2021, will deploy BlackSky’s eighth and ninth Earth
observation satellites.
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BlackSky’s constellation of imaging
smallsats enables persistent monitoring of the global supply chain.
In this example, BlackSky's satellites captured the Port of Los
Angeles during the ongoing, historic level of congestion.
Additionally, BlackSky's satellites imaged ships waiting at
anchorage outside the port and Spectra AI aggregated recent news
reports and other data elements to enable real-time monitoring and
inform critical decision making, with timely alerts, as conditions
change. Through BlackSky's Spectra platform, customers can monitor
the world's economic activity all from the comfort of home. (Photo:
Business Wire)
“BlackSky is expanding and scaling through a regular cadence of
launches so we can consistently increase capacity to deliver
first-to-know insights for our customers,” said Brian E. O’Toole,
CEO of BlackSky. “Our established practice of rapid deployments and
advanced commissioning process ensures customers can trust and rely
on our network for access to real-time global intelligence.”
Once on orbit, the two Gen-2 satellites will continue to grow
the BlackSky space network and enable BlackSky to provide more
frequent revisits globally with heightened revisit capability in
the 45-to-50-degree markets. As BlackSky expands its constellation,
it will strengthen its ability to offer timely and relevant
information on pattern-of-life anomalies, situational awareness,
and commercial opportunities to its customers. The company’s
geospatial intelligence solutions deliver analytics and insights
for a range of government agencies and industries such as
transportation, infrastructure, construction and supply chain
management, as well as humanitarian sectors.
The “Running Out of Toes” mission is part of BlackSky’s
multi-launch agreement with Spaceflight Inc. and Rocket Lab to
launch nine high-resolution multi-spectral satellites by the end of
2021. The first of these nine satellites launched on March 22, 2021
and entered commercial operations within two weeks.
About BlackSky Holdings, Inc.
BlackSky is a leading provider of real-time geospatial
intelligence. BlackSky monitors activities and facilities worldwide
by harnessing the world’s emerging sensor networks and leveraging
its own satellite constellation. BlackSky processes millions of
data elements daily from its constellation as well as a variety of
space, IoT, and terrestrial based sensors and data feeds.
BlackSky’s on-demand constellation of satellites can image a
location multiple times throughout the day. BlackSky monitors for
pattern-of-life anomalies to produce alerts and enhance situational
awareness. BlackSky’s monitoring service, Spectra AI, is powered by
cutting-edge compute techniques including machine learning,
artificial intelligence, computer vision, and natural language
processing. BlackSky’s global monitoring solution is available via
a simple subscription and requires no IT infrastructure or setup.
On February 17, 2021, BlackSky entered into a definitive agreement
for a business combination (the “Merger Agreement”) with Osprey
Technology Acquisition Corp. (“Osprey”) (NYSE: SFTW) that would
result in BlackSky becoming a publicly listed company. For more
information visit www.blacksky.com.
About Osprey
Osprey is a special purpose acquisition company, or SPAC, that
was established as a collaboration between investment firms HEPCO
Capital Management, led by Jonathan and Edward Cohen, and JANA
Partners, led by Barry Rosenstein and with its SPAC initiative led
by JANA Partner David DiDomenico, who serves as Osprey’s CEO,
President, and Director. Osprey was formed to consummate a
transaction with one or more transformative companies that have
developed innovative software delivery platforms. For more
information visit www.osprey-technology.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document contains certain forward-looking statements within
the meaning of the federal securities laws with respect to the
proposed transactions between Osprey and 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 could
cause actual future events to differ materially from the
forward-looking statements in this document, including but not
limited to: (i) the risk that the transactions may not be completed
in a timely manner or at all, which may adversely affect the price
of Osprey’s securities, (ii) the risk that the transactions may not
be completed by Osprey’s Business Combination deadline and the
potential failure to obtain an extension of the Business
Combination deadline if sought by Osprey, (iii) the failure to
satisfy the conditions to the consummation of the transactions,
including the adoption of the Merger Agreement by the stockholders
of Osprey, the satisfaction of the minimum trust account amount
following redemptions by Osprey’s public stockholders and the
receipt of certain governmental and regulatory approvals, (iv) the
lack of a third-party valuation in determining whether or not to
pursue the proposed transactions, (v) the inability to complete the
PIPE Investment, (vi) the occurrence of any event, change or other
circumstance that could give rise to the termination of the Merger
Agreement, (vii) the effect of the announcement or pendency of the
transactions on BlackSky’s business relationships, operating
results, and business generally, (viii) risks that the proposed
transactions disrupt current plans and operations of BlackSky, (ix)
the outcome of any legal proceedings that may be instituted against
BlackSky or against the Osprey related to the Merger Agreement or
the proposed transactions, (x) the ability to maintain the listing
of Osprey’s securities on a national securities exchange, (xi)
changes in the competitive and regulated industries in which
BlackSky operates, variations in operating performance across
competitors, changes in laws and regulations affecting BlackSky’s
business and changes in the combined capital structure, (xii) the
ability to implement business plans, forecasts, and other
expectations after the completion of the proposed transactions, and
identify and realize additional opportunities and (xiii) the
effects of natural disasters, terrorist attacks and the spread
and/or abatement of infectious diseases, such as COVID-19, on the
proposed transactions or on the ability to implement business
plans, forecasts, and other expectations after the completion of
the proposed transactions. The foregoing list of factors is not
exhaustive. You should carefully consider the foregoing factors and
the other risks and uncertainties described in the “Risk Factors”
section of Osprey’s registration on Form S-1 (File No. 333-234180),
the registration statement on Form S-4 discussed below and other
documents filed by Osprey from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Osprey and BlackSky assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Neither Osprey nor BlackSky gives any assurance that
either the Osprey or BlackSky, or the combined company, will
achieve its expectations.
Additional Information and Where to Find It
This document relates to the proposed transactions between
Osprey and BlackSky. This document does not constitute an offer to
sell or exchange, or the solicitation of an offer to buy or
exchange, any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. Osprey intends to file a
registration statement on Form S-4 with the U.S. Securities and
Exchange Commission (the “SEC”), which will include a document that
serves as a prospectus and proxy statement of Osprey, referred to
as a proxy statement/prospectus. A proxy statement/prospectus will
be sent to all Osprey stockholders. Osprey also will file other
documents regarding the proposed transactions with the SEC. Before
making any voting or investment decision, investors and security
holders of Osprey are urged to read the registration statement, the
proxy statement/prospectus and all other relevant documents filed
or that will be filed with the SEC in connection with the proposed
transactions as they become available because they will contain
important information about the proposed transactions.
Investors and security holders will be able to obtain free
copies of the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by Osprey through the website maintained
by the SEC at www.sec.gov.
The documents filed by Osprey with the SEC also may be obtained
free of charge at Osprey’s website at
https://www.osprey-technology.com/ or from Osprey upon written
request to 1845 Walnut Street, Suite 1111, Philadelphia,
Pennsylvania 19103.
Participants in Solicitation
Osprey and BlackSky and their directors and executive officers
may be deemed to be participants in the solicitation of proxies
from Osprey’s stockholders in connection with the proposed
transactions. Osprey’s stockholders and other interested persons
may obtain, without charge, more detailed information regarding the
directors and officers of Osprey in Osprey’s Annual Report on Form
10-K for the fiscal year ended December 31, 2019, which was filed
with the SEC on March 6, 2020, and in Osprey’s registration
statement on Form S-4, which is expected to be filed by Osprey with
the SEC in connection with the business combination. Information
regarding the persons who may, under SEC rules, be deemed
participants in the solicitation of proxies to Osprey’s
stockholders in connection with the proposed business combination
is set forth in the proxy statement/prospectus on Form S-4 for the
proposed business combination, which is expected to be filed by
Osprey with the SEC in connection with the business
combination.
A list of the names of such directors and executive officers and
information regarding their interests in the transactions will be
contained in the proxy statement/prospectus when available. You may
obtain free copies of these documents as described in the preceding
paragraph.
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval, nor shall there be any sale of any securities
in any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of such other jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20210506005013/en/
BlackSky Media Contact Colleen Moffitt
colleen@communiquepr.com 206-282-4923 ext. 113
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