BlackSky Technology Falls After Public Offering Announcement

1 min read | September 25, 2024 09:33 AM PDT | By Team Kalkine Media

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BlackSky Technology Falls After Public Offering Announcement — Image source: Shutterstock

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BlackSky Technology's shares fell over the announcement of a $40 million public offering.

The offering includes 10 million shares with a potential additional 1.5 million shares for underwriters.

The offering is expected to close around September 26, with Oppenheimer & Co. and Lake Street Capital Markets managing the process.

BlackSky Technology Inc (NYSE:BKSY) saw its shares drop on Wednesday. The decline follows the company’s announcement of a $40 million public offering involving 10 million shares.

This offering is solely from BlackSky and is projected to close by September 26, subject to standard closing conditions. Additionally, the company has provided underwriters with a 30-day option to purchase an extra 1.5 million shares. The joint book-running managers for this offering are Oppenheimer & Co. and Lake Street Capital Markets.

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