secwatch.observer — SEC 8-K summary
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Issuer:     BlackSky Technology Inc. (BKSY)
CIK:        0001753539
Form:       8-K
Filed at:   2025-07-22T23:59:59+00:00
Accession:  0001753539-25-000073
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1753539/000175353925000073/0001753539-25-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1753539/000175353925000073/bksy-20250717.htm
  HTML page:      https://secwatch.observer/filing/0001753539-25-000073

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