Streetbeat News

SATL

Satellogic Inc.

https://www.satellogic.com

Industry

Hardware, Equipment & Parts

Satellogic Inc. builds and operates nano satellites for commercial-grade Earth observation in real-time. It offers data streams that are used in decision-making processes for various branches of government, organizations, businesses, and individuals. Its satellites are used for applications in agriculture, pipeline monitoring, critical infrastructure monitoring, disaster response, illegal logging, border patrol, port security, and other applications. The company was founded in 2010 and is based in Palo Alto, California.

Open

3.67

Mkt cap

342M

Volume

501K

High

3.74

P/E Ratio

-4.97

52-wk high

5.49

Low

3.44

Div yield

N/A

52-wk low

0.72

Satellogic Inc (NASDAQ:SATL) shares surged after announcing its subsidiary, Nettar Group, Inc., entered a note purchase agreement with Tether Investments Limited for $30 million in floating rate secured convertible promissory notes. The deal, which could expand to $50 million, aims to support Satellogic's mission to democratize geospatial data access. SATL shares rose 15.7% to $1.76 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 15, 2024 | 1:05 pm

Satellogic Inc. (NASDAQ:SATL) announced a $30M strategic investment from Tether Investments Limited through secured convertible notes issued by its subsidiary, Nettar Group, Inc. This investment, which provides Satellogic with additional operating liquidity and financial flexibility, is aimed at advancing the company's U.S. strategy, National Security market focus, and global Space Systems opportunities. The notes, bearing interest at SOFR plus 6.50%, are convertible into Class A ordinary shares at $1.20 each, subject to CFIUS approval, and are secured by the company's assets.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 12:10 pm

Tata Advanced Systems Limited (TASL) and Satellogic Inc. (NASDAQ:SATL) launched the TSAT-1A satellite into orbit using SpaceX's Falcon 9 rocket. This marks a significant step in their aerospace collaboration, with the satellite offering enhanced optical images through advanced technologies. The launch occurred on April 7, 2024, and is part of a partnership aimed at developing advanced EO satellites. Despite this achievement, SATL shares saw a decrease of 1.27% to $1.53.

Portfolio Pulse from Akanksha Bakshi

April 08, 2024 | 1:46 pm

Tata Advanced Systems and Satellogic have successfully launched the TSAT-1A satellite, marking the first sub-meter resolution optical satellite built in India to reach orbit. This achievement represents a significant milestone in the collaboration between the two companies and enhances their capabilities in space technology and satellite imaging.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:07 pm

In Wednesday's pre-market session, several industrials stocks showed significant movement. Notably, Erayak Power Solution Gr, NuScale Power, and WANG & LEE Group were among the top gainers, while Velo3D, Bowman Consulting Group, and C3is led the losers. Cintas reported Q3 earnings, contributing to its stock rise, whereas Velo3D and C3is saw declines following their Q4 earnings reports.