| Schedule of Related Party Transactions |
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Amount Due to Related Party as of |
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December 31, |
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December 31, |
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2021 |
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2020 |
| Name |
Nature of Relationship |
Description of the Transactions |
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(in thousands) |
| Seahawk |
Debt Issuer |
In 2019, the Company raised and converted $18.4 million from prior debt into new, outstanding debt and issued 13.5 million warrants to purchase Legacy BlackSky common stock. |
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$ |
19,977 |
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$ |
19,198 |
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| Intelsat |
Debt Issuer |
In 2019, the Company entered into a term loan facility for $50.0 million and issued 20.2 million warrants to purchase Legacy BlackSky common stock. |
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54,149 |
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52,039 |
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| Jason and Marian Joh Andrews |
The former co-founders and employees of Legacy BlackSky |
In 2018, the Company executed the notes totaling $12.5 million to repurchase an aggregate of $11.5 million Legacy BlackSky common stock shares. The Andrews Notes were extinguished in the year ended December 31, 2021. The terms on the extinguishment were forgiveness on the existing principal balance of $10.0 million and accrued interest of $2.2 million in exchange for 958,082 shares. |
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— |
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12,500 |
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Amount Due to Related Party as of |
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Total Payments in Years Ended |
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December 31, |
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December 31, |
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2021 |
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2020 |
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2021 |
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2020 |
| Name |
Nature of Relationship |
Description of the Transactions |
(in thousands) |
| LeoStella |
Joint Venture |
Design, development and manufacture of multiple satellites |
$ |
19,257 |
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$ |
8,205 |
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$ |
8,381 |
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$ |
8,012 |
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| X-Bow |
Equity Method Investee |
In 2017, the Company received stock in X-Bow. As of December 31, 2021, the Company had a 17.5% investment in X-Bow and had one Board seat. As described in Note 7, the Company has engaged X-Bow to develop a rocket for the Company. |
1,865 |
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4,079 |
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— |
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750 |
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| Palantir Technologies |
Strategic Partner |
Multi-year software subscription agreement for $8.0 million |
750 |
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— |
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— |
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— |
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| Ursa Space Systems |
Strategic Partner |
The chairman of the Company’s board of directors, Will Porteous, is also an investor and member of the board of directors of Ursa Space Systems. |
809 |
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83 |
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— |
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