Class A Common Stock Expected to Begin Trading on Reverse Split-Adjusted Basis on September 9, 2024
BlackSky Technology Inc. (“BlackSky”) BKSY, recently made headlines by announcing a strategic maneuver intended to streamline its Class A common stock offering. The Board of Directors at BlackSky greenlighted a decisive 1-for-8 reverse stock split (the “Reverse Stock Split”) of the company’s Class A common stock, par value $0.0001 per share (the “Class A Common Stock”). Mark your calendars, investors, for the Reverse Stock Split shall make its grand debut at 4:15 p.m. Eastern Time on September 6, 2024. Come September 9, 2024, the Class A Common Stock will be on the move, trading on the New York Stock Exchange (the “NYSE”) on a reverse split-adjusted basis under the familiar symbol “BKSY.”
You heard it here first; the new CUSIP number of the Class A Common Stock following the Reverse Stock Split will be 09263B 207. Exciting times are ahead as BlackSky’s publicly traded warrants continue their dance on the NYSE under the symbol “BKSY.W,” with the CUSIP number for these warrants standing proud and unchanged.
Brace yourself, for at the magical hour of the Reverse Stock Split, every eight shares of issued Class A Common Stock will waltz into the creation of one new share of Class A Common Stock. But fret not, for this split will not tweak the number of authorized shares of Class A Common Stock or BlackSky’s beloved preferred stock. To keep continuity intact, the par value per share of the Class A Common Stock shall remain unchanged at $0.0001.
Venture further with us, and you shall witness proportionate adjustments elegantly crafted to the per share exercise price and the number of shares issuable upon the exercise or settlement of all outstanding BlackSky options and restricted stock units. An adjustment to the number of shares reserved for issuance pursuant to BlackSky’s equity incentive plans shall feature gracefully. Behold the symphony of adjustments to BlackSky’s outstanding warrants, with each publicly traded warrant becoming a beacon for 1/8th of a share of Class A Common Stock, redeemable at an exercise price of $92.00 for a whole share.
Fans of BlackSky, unite! No more fractional shares gliding into your portfolio post-Reverse Stock Split. Instead, fractional share enthusiasts shall receive a cash payment (interest-free) in place of their multi-piece share at a price mirroring the number of shares of Class A Common Stock they clutched before the Reverse Stock Split, multiplied by the closing price of a Class A Common Stock share on the NYSE on September 6, 2024 – the day magic happens.
The conductors of this financial orchestra at Continental Stock Transfer & Trust Company shall choreograph the transfer and exchange agent duties for this Reverse Stock Split. Registered stockholders need not lift a finger to receive post-reverse split shares. Holders of shares via intermediaries like brokers, banks, trust, or other mysterious nominees shall behold automatic position adjustments reflecting the Reverse Stock Split. The melody of financial harmony shall resonate, and you shall not be required to add your own notes in connection with the Reverse Stock Split.
Delve deeper into the intricacies of the Reverse Stock Split by perusing through BlackSky’s definitive proxy statement that fluttered into the Securities and Exchange Commission (the “SEC”) on July 25, 2024. The treasure trove of information awaits the curious soul, available for free at the SEC’s digital abode and BlackSky’s own digital dwelling.
About BlackSky
Enter the cosmos of BlackSky, where real-time intelligence blooms. Appearing as a star on the stage of space-based intelligence, BlackSky enchants with its celestial offering of on-demand, high-frequency imagery, analytics, and monitoring. Behold the unveiling of critical and strategic locations, assets, and events as BlackSky unfurls its wings. At the core of BlackSky’s realm lies one of the industry’s most sophisticated, tailor-made commercial intelligence systems – a fusion of the BlackSky Spectra® tasking and analytics software platform and a proprietary low earth orbit satellite constellation.
Dive headfirst into the boundless possibilities with BlackSky – a spectacle revered by the most discerning U.S. and international government agencies, corporations, and global organizations. Herndon, VA shelters the cosmic headquarters of BlackSky, as it graciously glides as BKSY on the New York Stock Exchange. Seek further enlightenment at the sanctuary that is BlackSky’s website and journey alongside the company’s celestial voyage on Twitter.
Forward-Looking Statements
A journey beyond the event horizon of this press release leads to the realm of forward-looking statements, a realm frequented by the bold. These grand proclamations adorned with words like “believe,” “anticipate,” and “estimate” paint a picture of the future. Beware, as this realm sees shadows of risk and uncertainty. While these predictions captivate with their allure, a discordant note may be struck if reality veers from this script. Peering through the time lens, these statements are tinted with our beliefs and dreams at the time of this narration. Yet, the cosmic dance of events could rewrite this narrative at the blink of an eye. These statements, carved in the stone of the date of this communication, may molt and transform with the passage of time. Thus, tread wisely; the future is ever-changing, and we pledge to update our word tapestries only as required by the cosmic laws of the securities domain. Seek more astral wisdom in BlackSky’s disclosures to the SEC – a realm accessible through the SEC’s digital citadel.
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