Satellogic to Go Public Through Merger with Cantor Fitzgerald’s CF Acquisition Corp. V

New York City, NY, July 6, 2021--Satellogic, a provider of high-resolution satellite data collection, and CF Acquisition Corp. V (Nasdaq: CFV) (“CFAC V”), a special purpose acquisition company sponsored by Cantor Fitzgerald, announced today that they have entered into a definitive merger agreement that will result in Satellogic becoming a publicly traded company.

The transaction is expected to be completed early in the fourth quarter of 2021, subject to regulatory approvals and other customary closing conditions. After closing, Satellogic will trade on the Nasdaq under ticker symbol SATL.

On July 5, 2021, Satellogic entered into a definitive merger agreement with CFAC V. The transaction reflects an implied pro forma enterprise value of US$ 850 million for Satellogic, representing a multiple of approximately 1.1x projected revenue of approximately US$ 800 million by 2025.

The transaction is expected to result in cash on the balance sheet of up to approximately US$ 274 million, after transaction expenses and debt repayment, through the contribution of up to US$ 250 million of cash held in CFAC V’s trust account (assuming no redemptions by CFAC V’s public stockholders), and a concurrent PIPE offering of US$ 100 million led by SoftBank's SBLA Advisers Corp. and Cantor Fitzgerald, among other top-tier institutional investors.

The transaction, which has been unanimously approved by the Boards of Directors of Satellogic and CFAC V, is subject to approval by CFAC V’s stockholders and other customary closing conditions.

Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be available in a Current Report on Form 8-K to be filed by CFAC V with the U.S. Securities and Exchange Commission (the “SEC”) and at www.sec.gov.

J.P. Morgan is serving as exclusive financial advisor to Satellogic, with Friedman Kaplan Seiler & Adelman LLP and Greenberg Traurig LLP serving as legal counsel to the Company. Cantor Fitzgerald & Co. is serving as financial advisor and capital markets advisor to CFAC V as well as placement agent on the PIPE, with Hughes Hubbard & Reed LLP serving as legal counsel to CFAC V.