BlackSky Technology Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Debt and Other Financing (Tables)

Debt and Other Financing (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The carrying value of the Company’s outstanding debt, inclusive of debt instruments reported at fair value, consisted of the following amounts as of June 30, 2021 and December 31, 2020:


	June 30,			December 31,
	2021			2020

	(in thousands)
Current portion of long-term debt	$	19,698		$	16,798
Non-current portion of long-term debt		160,561			86,637

Total long-term debt		180,259			103,435
Unamortized debt issuance cost		(3,714	)		(1,827	)

Outstanding balance	$	176,545		$	101,608

The Company’s changes in debt issuance cost, debt discount, and outstanding balance are as follows:


	December 31,
	2020			2019
	(in thousands)
Current portion of long-term debt	$	16,798		$	42,098
Non-current portion of long-term debt		86,637			80,946

Total long-term debt		103,435			123,044
Unamortized debt issuance cost		(1,827	)		(3,031	)

Outstanding balance	$	101,608		$	120,013

Schedule of Maturities of Long-term Debt

Under the Company’s loan agreements, minimum required maturities are as follows:


	(in thousands)
For the years ending December 31,
2021		16,798
2022		2,900
2023		—
2024		71,237
thereafter		12,500

Total outstanding		103,435

Schedule of Debt Instrument Carrying Amount


				June 30,		December 31,
Name of Loan	Effective Interest Rate			2021		2020

				(in thousand)
Loans from Related Parties		4.00% - 6.00	%	$	82,987	$	83,737
2021 Convertible Bridge Notes (1)		N/A	(2)		77,574		—
Small Business Administration Loan (Paycheck Protection Program)		1.86	%		3,600		3,600
Line of Credit		3.65	%		16,098		16,098

Total				$	180,259	$	103,435

The ending balance of the Company’s outstanding debt as of December 31, 2020 and 2019, consist of the following:


				December 31,
Name of Loan	Effective Interest Rate			2020		2019
				(in thousands)
Loans from Related Parties		4.00% - 6.00	%	$	83,737	$	80,946
Small Business Administration Loan (Paycheck Protection Program)		1.86	%		3,600		—
Line of Credit		3.65	%		16,098		16,098
Secured Loan					—		26,000

Total				$	103,435	$	123,044

Schedule of Common Stock and Warrants Issued Under 2021 Bridge Financing

The following table summarizes the additional shares of Class A Common Stock and warrants to purchase Class A Common Stock issued as a result of the 2021 Bridge Financings.


	Class A Common Stock		Class A Common Stock Warrants

	(in thousands)
Issued to Silicon Valley Bank (“SVB”) guarantors		93,042		—
Issued in connection with the initial tranche of 2021 Bridge Financing		126,572		42,487
Issued as incentive shares and as incentive warrants, in connection with the Rights Offering		3,440		565

Total		223,054		43,052

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details