Osprey Technology Acquisition Corp. (NYSE:SFTW) announced in an 8-K filing today that its shareholders approved its combination with satellite imaging company BlackSky Holdings, Inc. in a meeting held earlier today.
The filing disclosed that 21,375,376 shares were redeemed for a pro rata portion of the funds in the trust account at approximately $10.05 per share. As a result, approximately $214,906,385.05 million, or 65.9%, will be removed from the trust to pay the shareholders. SFTW saw high volume today with 3,082,404 shares traded throughout the day, representing approximately $30 million+ or 1/3 of the public float. SFTW closed today at $10.40.
Holders of 26,572,450 shares of SFTW’s stock were present at the meeting, representing 67.22% of the voting power. The business combination was overwhelmingly approved as it received 26,398,002 votes in favor of the proposal.
Although the 8-K did not give an exact timeline on the closing of the transaction, Osprey Technology expects it to be completely promptly. The company is expected to remain listed on the New York Stock Exchange with its common stock and warrants trading under the new ticker symbol “BKSY” and “BKSY.W” respectively.
The parties initially announced their $1.106 billion deal on February 18. Herndon V.A. based BlackSky is a a real-time Earth observation company leveraging the innovative performance and economics of small satellite constellations to deliver high revisit global monitoring solutions.
Just yesterday, BlackSky was awarded a five year contract by the National Geospatial-Intelligence Agency valued at $30 million.
ADVISORS
- Credit Suisse Securities (USA) LLC is acting as lead financial advisor and as capital markets advisor to BlackSky
- Credit Suisse Securities (USA) LLC acted as lead placement agent and Moelis & Company LLC also acted as placement agents in connection with the PIPE offering
- Moelis & Company LLC is acting as lead financial advisor and Union Square Advisors LLC is acting as capital markets and strategic advisor to Osprey
- PJT Partners LP is one of BlackSky’s financial advisors and a placement agent with respect to this transaction
- Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal advisor to BlackSky
- Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Osprey
- Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Credit Suisse Securities (USA) LLC


Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....