$23.35 million raised so far by Satellogic (Nettar Group) via private placement

XDATA – June 26th 2017
Satellogic disclosed selling 70% of its $33.35 million non-brokered equity offering to twenty-six investors. The sale started almost two weeks ago according to the document filed at the SEC. Based on the offering’s structure, the company has until June 2018 to raise an extra $10 million. It appears to be the first time the company is filling a security offering under a registration exemption.
The company is registered in a foreign jurisdiction indicating the amount offered reported may only represent the portion of the placement earmarked by the company for US investors.
Satellogic develops smart data solutions, which offer affordable, high-resolution geo-intelligence, with the capability to capture planetary images of one meter resolution. Its data products can be applied in a number of fields including agriculture, pipeline monitoring, critical infrastructure monitoring, business intelligence and disaster response. The company launched sixth micro-satellite aboard a Long March-4B rocket that took off from Jiuquan Satellite Launch Center in China. Investors include Tencent Holdings.
The company, headquartered in Road Town, Tortola Virgin Islands British, is led by Emiliano Kargieman (CEO). Satellogic elected to keep its revenues undisclosed.
The board of directors includes Fernando De Castro Reinarch, Gerardo Gabriel Richarte and Theodore Glass Wang.

Satellogic is registered under the name Nettar Group.

Offering recap
Status: First close
Company: Satellogic
Industry: Other Technology
Amount offered: $33.35 million
Amount placed: $23.35 million
SEC filing: Source
First sale: 06-13-2017
Data as of: 06-26-2017
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