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SFTW Stock: 16 Things for Investors to Know About Osprey and the BlackSky SPAC Merger

BlackSky has announced plans to go public via a special purpose acquisition company (SPAC) merger with Osprey Technology Acquisition (NYSE:SFTW) and SFTW stock is on the rise.

SPACs join company on puzzle pieces and handshake, 3d render

Source: NESPIX /

Here’s everything potential investors in SFTW stock need to know about the company and the upcoming SPAC merger.

  • Osprey Technology Acquisition is a blank-check company created by investment firms HEPCO Capital Management and JANA Partners.
  • JANA Partner David DiDomenico serves as the president, director and CEO of the company.
  • It was created with the goal of taking a company that “developed innovative software delivery platforms” public.
  • The SPAC merger will see BlackSky taking over the public company.
  • This would also result in shares of SFTW stock changing over to the new BKSY stock ticker.
  • BlackSky is a “provider of real-time geospatial intelligence and global monitoring services.”
  • It was founded in 2014 and is led by CEO Brian O’Toole.
  • The SPAC merger values the company at $1.1 billion.
  • Blacksky should emerge from the merger with $450 million in net proceeds to make use of.
  • That comes, in part, from $318 million held in trust from Osprey Technology Acquisition.
  • Another $180 million comes from a private investment in public equity (PIPE).
  • The BlackSky SPAC merger has the unanimous support of both companies’ Boards of Directors.
  • Now it just needs approval from shareholders and regulators.
  • So long as there are no troubles, the deal is expected to close in July 2021.
  • Heavy trading of SFTW stock today has seen more than 13 million shares change hands.
  • That’s quite the jump from its daily average trading volume of about 194,000 shares.

SFTW stock was up 27.8% as of Thursday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media,

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