BlackSky Technology Inc. (BKSY): debt financing — BlackSky enters $20M revolving credit facility with Stifel Bank; borrows $10M at close

BlackSky Technology Inc.

$20M revolving credit facility including $500K letter-of-credit subfacility from Stifel Bank.
$10M immediately available and drawn at closing; remaining $10M available after June 28, 2024.
Loans mature June 30, 2026; interest at greater of prime rate or 6.00% per annum.
Facility secured by substantially all assets; includes minimum revenue and cash-equivalent covenants.
Proceeds used for growth initiatives, working capital, and general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BlackSky Technology Inc. incurred revolving credit of $20.0 million revolving credit facility with Stifel Bank, as lender at greater of (A) the prime rate and (B) six percent (6.00%) maturing June 30, 2026.

Instrument: revolving credit
Principal: $20.0 million revolving credit facility
Counterparty: Stifel Bank, as lender
Rate: greater of (A) the prime rate and (B) six percent (6.00%)
Maturity: June 30, 2026
Event: incurrence

Exact text from the filing

On April 11, 2024, BlackSky Technology Inc., a Delaware corporation (the “Company”), and certain subsidiaries of the Company, as co-borrowers (together with the Company, the “Borrowers”), entered into a loan and security agreement (the “Loan Agreement”) with Stifel Bank, as lender (“Bank”). The Loan Agreement provides for a $20.0 million revolving credit facility, including a $500,000 subfacility for the issuance of letters of credit and other ancillary banking services.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BlackSky Technology Inc. entered into Loan Agreement with Stifel Bank valued at $20.0 million (effective 2024-04-11).

Action: entry
Agreement: credit facility
Counterparty: Stifel Bank
Value: $20.0 million
Effective: 2024-04-11

Exact text from the filing

entered into a loan and security agreement (the “Loan Agreement”) with Stifel Bank, as lender (“Bank”). The Loan Agreement provides for a $20.0 million revolving credit facility

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299 debt financings filed in the last 30 days. Browse all debt financings →

BlackSky Technology Inc. filing history →

Source: SEC EDGAR

accession 0001753539-24-000051

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