Firm Advises BlackSky Holdings in Merger with Osprey Technology Acquisition Corp.

On February 18, 2021, BlackSky Holdings, Inc., a real-time geospatial intelligence, imagery, and data analytics company, and Osprey Technology Acquisition Corp., a special purpose acquisition company, or SPAC, announced they entered into a definitive agreement for a business combination that would result in BlackSky becoming a publicly listed company. Wilson Sonsini Goodrich & Rosati is advising BlackSky in the transaction.

According to the press release, pursuant to the transaction, Osprey will combine with BlackSky at an estimated pro forma enterprise value of $1.1 billion. The business combination agreement is expected to provide approximately $450 million of net proceeds to the combined company to fund expected future growth, including a fully committed $180 million common stock PIPE with participation from leading institutional investors including Tiger Global Management, Mithril Capital, Hedosophia, and Senator Investment Group. Additionally, Osprey’s sponsor and its affiliates are investing over $20 million in the PIPE.

The transaction has been unanimously approved by the Board of Directors of both Osprey and BlackSky and is expected to close in July 2021.

The Wilson Sonsini team advising BlackSky includes the following attorneys:

Corporate
Craig Sherman, Partner
Drake Glesmann, Associate
Melanie Froh, Associat
Adam Fryer, Paralegal

M&A
Brian Keyes, Partner
Andrew Lombardo, Associate

Capital Markets
Megan Baier, Partner
Mark Bass, Partner
Alexandra Perry, Associate
Abigail Riddle, Associate

Corporate Finance
Dana Hall, Partner
Joe Catapano, Associate
Alex Weber, Associate

Intellectual Property
Manja Sachet, Partner
Chi-Fei Wang, Of Counsel

Privacy and Cybersecurity
Matt Staples, Partner

Tax
Gregory Broome, Partner

Executive Benefits & Compensation
Jaqueline Tokuda, Partner
Mark Cornillez-Ty, Associate

Employment Law
Joseph Horne, Associate

Regulatory
Joshua Gruenspecht, Partner
Seth Cowell, Associate

Real Estate
James McCann, Partner
Martin Sul, Senior Counsel

Please see BlackSky’s press release for more information.