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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

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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, https://investorplace.com/2021/02/sftw-stock-16-things-for-investors-to-know-about-osprey-and-the-blacksky-spac-merger/.

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