Post-effective amendment to a registration statement that is not immediately effective upon filing

Reverse Recapitalization (Tables)

v3.22.1
Reverse Recapitalization (Tables)
 12 Months Ended
Dec. 31, 2021
Reverse Recapitalization [Abstract]  
Schedule of Reverse Recapitalization
The following table reconciles the elements of the Merger to the consolidated statements of cash flows and the consolidated statement of changes in stockholder's equity (deficit) for the year ended December 31, 2021 (in thousands):
Cash – Osprey’s trust and cash (net of redemptions) $ 103,049 
Cash - PIPE financings (PIPE Shares and Palantir) 188,000 
Gross Merger proceeds $ 291,049 
Less: fees paid to Osprey IPO underwriters (11,173)
Less: other Osprey transaction costs (15,831)
Less: BlackSky transaction costs (19,165)
Proceeds from Reverse Recapitalization, net payment of BlackSky equity issuance costs $ 244,880 
Less: non-cash assets and warrant liabilities assumed from Osprey (43,963)
Net impact from Reverse Recapitalization to BlackSky's equity $ 200,917 
The number of shares of Company Class A common stock originally issued by Osprey prior to Merger and the recapitalization of the Class A common stock following the Merger are as follows:
Number of Shares
(in thousands)
Osprey class A common stock, outstanding prior to Merger 31,625 
Less: redemption of Osprey class A common stock (21,375)
Total Osprey class A common stock pre-Merger 10,250 
Osprey Founder class A common stock 5,534 
Class A common stock issued in PIPE and Palantir financing 18,800 
Total Merger, PIPE, and Palantir financing class A common stock 34,584