BlackSky Technology Inc. (NYSE: BKSY) has announced a proposed private offering of $125 million in Convertible Senior Notes due 2033. The offering, subject to market conditions and other factors, is targeted at qualified institutional buyers. An option is available for initial purchasers to buy up to an additional $18.75 million of notes within a 13-day period following the issuance. The proceeds from the offering are earmarked for repaying and terminating BlackSky's secured term loan and revolving credit facility, with remaining funds allocated for general corporate purposes, including working capital and strategic investments. The notes, which are unsecured, will accrue interest payable semiannually and can be converted into cash, shares of Class A common stock, or a combination of both at BlackSky's discretion.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.