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

Debt and Other Financing (Tables)

v3.22.1
Debt and Other Financing (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Debt
The carrying value of the Company’s outstanding debt consisted of the following amounts:
December 31, December 31,
2021 2020
(in thousands)
Current portion of long-term debt $ —  $ 16,798 
Non-current portion of long-term debt 74,126  86,637 
Total long-term debt 74,126  103,435 
Unamortized debt issuance cost (2,718) (1,827)
Outstanding balance $ 71,408  $ 101,608 
Under the Company’s loan agreements, minimum required maturities are as follows:
For the years ending December 31, (in thousands)
2022 $ — 
2023 — 
2024 74,126 
Total outstanding $ 74,126 
The ending balance of the Company’s outstanding debt as of December 31, 2021 and 2020, consisted of the following:
December 31, December 31,
Name of Loan Effective Interest Rate 2021 2020
(in thousands)
Loans from related parties
7.41% - 8.00%
 $ 74,126  $ 83,737 
Small Business Administration Loan (Paycheck Protection Program) 1.86% —  3,600 
Line of credit 3.65% —  16,098 
Total $ 74,126  $ 103,435 
Schedule of Debt Conversions
The following table summarizes the additional shares of Legacy BlackSky class A common stock and warrants to purchase Legacy BlackSky class A common stock issued as a result of the Bridge Notes.
Legacy BlackSky Class A Common Stock(1)
Legacy BlackSky Class A Common Stock Warrants(1)
(in thousands)
Issued to SVB guarantors 8,485  — 
Issued in connection with the initial tranche of Bridge Notes 11,544  3,873 
Issued as incentive shares and as incentive warrants, in connection with the Rights Offering 314  51 
Total 20,343  3,924 
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(1)Issuance of class A common stock and class A common stock warrants has been retroactively restated to give effect to the reverse recapitalization.