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

Related Party Transactions (Tables)

v3.21.2
Related Party Transactions (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Related Party Transaction [Line Items]    
Schedule of Related Party Transactions
              
Amount Due to Related Party as of
 
              
September 30,
2021
    
December 31,
2020
 
Name
  
Nature of
Relationship
  
Description of the Transactions
  
(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.    $ 19,198    $ 19,198
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.    $ 52,039    $ 52,039
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 11.5 million of Legacy BlackSky common stock shares.    $ 10,000    $ 12,500
 
 
 
 
 
 
 
 
 
 
 
 
Amount Due to Related Party
as of
 
 
 
 
 
 
 
Total payments
in Nine Months
Ended September 30,
 
 
September 30,
 
 
December 31,
 
 
 
 
 
 
 
2021
 
 
2020
 
 
2021
 
 
2020
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Name
 
Nature of
Relationship
 
Description of the Transactions
 
(in thousands)
 
 
(in thousands)
 
LeoStella
 
Joint Venture
 
Design, development and manufacture of multiple satellites
 
$
15,060
 
$
8,205
 
$
—  
 
$
8,012
Palantir Technologies
 
Strategic Partner
 
Multi-year software subscription agreement for $8.0 million
 
$
375
 
$
—  
 
$
—  
 
$
—  
X-Bow
 
Equity Method Investee
 
In 2017, the Company received stock in
X-Bow.
As of September 30, 2021, the Company had a 17.9% 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
 
$
3,079
 
$
—  
 
$
750
Name
  
Nature of
Relationship
  
Description of the Transactions
  
Balance of Principal
of December 31,
 
  
2020
 
  
2019
 
 
  
 
  
 
  
(in thousands)
 
Seahawk
   Debt Issuer    In 2019, the Company raised and converted $18.4 million from the Seahawk LSA into the Intelsat Facility as outstanding debt and issued 13.5 million warrants to purchase common stock.    $ 19,198      $ 18,446  
         
Intelsat
   Debt Issuer    In 2019, the Company entered into a term loan facility with Intelsat Facility for $50.0 million and issued 20.2 million warrants to purchase common stock.    $ 52,039      $ 50,000  
         
Jason and Marian Joh Andrews
   The Former
Co-founders
and
employees
of BlackSky
   In 2018, the Company executed the Andrew’s Notes worth $12.5 million in total to repurchase an aggregate 11.5 million of common stock shares, which were not exchanged for Osprey shares at the time of the merger.   
$
12,500
  
$
12,500
Name
 
Nature of
Relationship
 
Description of the Transactions
 
Total Payments in
December 31,
   
Amount Due to Related
Party as of December 31,
 
 
2020
   
2019
   
    2020    
   
    2019    
 
           
(in thousands)
   
(in thousands)
 
LeoStella
  Joint Venture   In 2018, the Company formed LeoStella and, pursuant to the terms and conditions of the joint venture agreement, the Company has two designated members of LeoStella’s Board of Directors. As described in Note 6, the Company and LeoStella executed an SPC to design, develop and manufacture multiple satellites for the Company’s geospatial business operations.   $ 8,205     $ 23,315     $ 8,012     $ 11,460  
             
X-Bow
  Equity
Method
Investee
  In 2017, the Company entered into a Stock Subscription and Technology Transfer Agreement with
X-Bow.
As of
December 31, 2020, the Company has a 20.6% interest in
X-Bow
and has one Board seat. As described in Note 6, the Company has engaged
X-Bow
to develop a rocket for the Company.
  $ 4,079     $ 114     $ 750     $ —