---
schema_version: "secwatch.filing_event.v1"
accession: "0001753539-25-000073"
form_type: "8-K"
ticker: "BKSY"
cik: "0001753539"
company_name: "BlackSky Technology Inc."
filed_at: "2025-07-22T23:59:59+00:00"
generated_at: "2026-05-18T04:25:39.666146+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001753539-25-000073
- form_type: 8-K
- ticker: BKSY
- cik: 0001753539
- company_name: BlackSky Technology Inc.
- filed_at: 2025-07-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1753539/000175353925000073/0001753539-25-000073-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1753539/000175353925000073/bksy-20250717.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753539-25-000073
- JSON: https://secwatch.observer/filing/0001753539-25-000073.json
- Plain text: https://secwatch.observer/filing/0001753539-25-000073.txt

## Key facts
- Debt Financings
  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
  source text: completed its previously announced private offering (the “Offering”) of $185 million aggregate principal amount of 8.25% Convertible Senior Notes due 2033
  evidence_url: https://www.sec.gov/Archives/edgar/data/1753539/000175353925000073/0001753539-25-000073-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.