BlackSky closes $185M convertible notes offering at 8.25%, repays existing debt

BlackSky Technology Inc.

Completed offering of $185M principal of 8.25% Convertible Senior Notes due 2033, including full exercise of upsized option.
Net proceeds ~$177.9M; used $103.1M to repay secured term loan and $10.2M to repay revolver, terminated both facilities.
Conversion rate 27.1909 shares/$1,000 principal, initial conversion price ~$36.78 (~30% premium to July 17 close).
Notes mature Aug 1, 2033; interest payable semiannually; company cannot redeem before Aug 4, 2028; holders have put option Aug 6, 2030.
Remaining proceeds for general corporate purposes, working capital, capex, strategic investments.

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