BlackSky Technology Inc. (BKSY): debt financing — 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.

item 1.01 item 1.02 item 2.03 item 3.02 item 8.01 item 9.01

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 senior notes of $185 million aggregate principal amount with U.S. Bank Trust Company, National Association at 8.25% per year maturing August 1, 2033.

Instrument: senior notes
Principal: $185 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 8.25% per year
Maturity: August 1, 2033
Event: incurrence

Exact text from the filing

completed its previously announced private offering (the “Offering”) of $185 million aggregate principal amount of 8.25% Convertible Senior Notes due 2033

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BlackSky Technology Inc. filing history →

Source: SEC EDGAR

accession 0001753539-25-000073

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