- General Joseph F. Dunford, Jr. joins Board of Directors that
includes Secretary Steven T. Mnuchin and Howard W. Lutnick
- Completes $150 million investment from Secretary Mnuchin’s
Liberty Strategic Capital
- Share repurchase program approved by Board of Directors to
capitalize on undervalued stock price
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution
satellite imagery collection, today announced the appointment of
Liberty Strategic Capital’s Senior Managing Director and former
Chairman of the Joint Chiefs of Staff General Joseph F. Dunford,
Jr. to its Board of Directors. General Dunford is enormously
respected in the business community and brings decades of defense
and intelligence experience to the Company.
“We are honored to welcome General Dunford to Satellogic’s Board
of Directors. Drawing on his distinguished career as a national
security leader, General Dunford will offer invaluable perspective
and insight as Satellogic works to unlock high-resolution Earth
imagery and analytics for governments and businesses worldwide,”
said Non-Executive Chairman of the Board and former U.S. Treasury
Secretary Steven T. Mnuchin. “We are excited for General Dunford to
bring his invaluable leadership and global experience to
Satellogic. The addition of General Dunford further underscores the
importance of Satellogic’s sub-meter resolution satellite data for
real-world uses across commercial, government and environmental
applications.”
General Dunford is a retired U.S. Marine Corps General, who
served as the 19th Chairman of the Joint Chiefs of Staff and the
36th Commandant of the Marine Corps. He currently also serves on
the Board of Directors of Lockheed Martin Corporation.
Following today’s announcement, General Dunford commented,
“Sub-meter satellite data and analytics can help drive better, more
well-informed decision-making across a wide variety of
applications. I look forward to partnering with the Board and
management team to help guide Satellogic on its journey to change
the way governments, industries, and communities see the
Earth.”
Completes Liberty Strategic Capital Investment
Liberty Strategic Capital, a private equity firm founded and led
by Secretary Mnuchin, completed its previously announced $150
million investment in Satellogic. 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”).
Share Repurchase Program
Satellogic also announced today that its Board of Directors
approved an initial $5 million share repurchase program.
Repurchases under the program may be made in the open market, in
privately negotiated transactions or otherwise, with the timing of
repurchases depending on market conditions. Open market repurchases
will be structured to occur within the pricing and volume
requirements of Rule 10b-18.
Emiliano Kargieman, Chief Executive Officer of Satellogic, said,
“This repurchase program demonstrates our belief that the current
market value of our stock does not reflect the value of our
company. Also, it reflects our Board’s confidence in Satellogic’s
opportunities, long-term strategic plan and financial
position.”
About Satellogic
Founded in 2010 by Emiliano Kargieman and Gerardo Richarte,
Satellogic (NASDAQ: SATL) is the first vertically integrated
geospatial company, driving real outcomes with planetary-scale
insights. Satellogic is creating and continuously enhancing the
first scalable, fully automated Earth Observation platform with the
ability to remap the entire planet at both high-frequency and
high-resolution, providing accessible and affordable solutions for
customers.
Satellogic’s mission is to democratize access to geospatial data
through its information platform of high-resolution images and
analytics to help solve the world’s most pressing problems
including climate change, energy supply, and food security. Using
its patented Earth imaging technology, Satellogic unlocks the power
of Earth Observation to deliver high-quality, planetary insights at
the lowest cost in the industry.
With more than a decade of experience in space, Satellogic has
proven technology and a strong track record of delivering
satellites to orbit and high-resolution data to customers at the
right price point.
To learn more, please visit: http://www.satellogic.com
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws. The words
“anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”,
“intends”, “may”, “might”, “plan”, “possible”, “potential”,
“predict”, “project”, “should”, “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. These
forward-looking statements are based on Satellogic’s current
expectations and beliefs concerning future developments and their
potential effects on Satellogic and include statements concerning
Satellogic’s strategies, Satellogic’s future opportunities, the
commercial, government and environmental applications for
Satellogic’s technology and product offerings and Satellogic’s
share repurchase program. Satellogic’s strategies, Satellogic’s
future opportunities, the commercial, government and environmental
applications for Satellogic’s technology and product offerings and
Satellogic’s new share repurchase program. 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. These statements are based on various assumptions,
whether or not identified in this press release. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on
by, an investor as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of Satellogic. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including but not limited to: (i)
changes in the competitive and highly regulated industries in which
Satellogic operates, variations in operating performance across
competitors and changes in laws and regulations affecting
Satellogic’s business, (ii) the ability to implement business
plans, forecasts and other expectations, and identify and realize
additional opportunities, (iii) the risk of downturns in the
commercial launch services, satellite and spacecraft industry, (iv)
volatility in the price of Satellogic’s securities due to a variety
of factors, including changes in the competitive and highly
regulated industries in which Satellogic operates or plans to
operate, variations in performance across competitors, changes in
laws and regulations affecting Satellogic’s business, (v) the risk
that Satellogic and its current and future collaborators are unable
to successfully develop and commercialize Satellogic’s products or
services, or experience significant delays in doing so, (vi) the
risk that Satellogic may never achieve or sustain profitability,
(vii) the risk that Satellogic may need to raise additional capital
to execute its business plan, which many not be available on
acceptable terms or at all, (viii) the risk that Satellogic
experiences difficulties in managing its growth and expanding
operations, (ix) the risk that third-party suppliers and
manufacturers are not able to fully and timely meet their
obligations, (x) the risk of product liability or regulatory
lawsuits or proceedings relating to Satellogic’s products and
services, (xi) the risk that Satellogic is unable to secure or
protect its intellectual property, (xii) the risk that the market
may not accept Satellogic’s products and services, the size of the
TAM, and that Satellogic’s sales cycle is often long and
unpredictable, and (xiii) with respect to any repurchases of
shares, the amount of shares repurchased, if any, and the timing of
such repurchases will depend on, among other things, the trading
price of Satellogic’s common shares, which may be positively or
negatively impacted by the repurchase program, market and business
conditions, the availability of shares, Satellogic’s financial
performance or determinations following the date of this
announcement in order to use Satellogic’s funds for other purposes.
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
Satellogic’s effective registration statement on Form F-4 and the
proxy statement/prospectus included therein and other documents
filed or to be filed by Satellogic 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 Satellogic assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Satellogic gives no assurance that it will achieve its
expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220214005332/en/
Investor Relations:
MZ Group Chris Tyson/Larry Holub (949) 491-8235
SATL@mzgroup.us
Media Relations:
Satellogic pr@satellogic.com
FTI Consulting Rachel Chesley
Satellogic@fticonsulting.com
Satellogic (NASDAQ:SATL)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025
Satellogic (NASDAQ:SATL)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025
