Strategic Move: Class A Common Stock Set to Make Waves Post-Split
In a bold maneuver that echoes through the canyons of Wall Street, BlackSky Technology Inc. (“BlackSky”) BKSY has unveiled plans for a 1-for-8 reverse stock split (the “Reverse Stock Split”) of its Class A common stock. The decision, rubber-stamped by BlackSky’s esteemed Board of Directors, surfaced at the virtual annual meeting of stockholders with a resounding nod of approval. The Reverse Stock Split will spring into action at 4:15 p.m. Eastern Time on September 6, 2024. Subsequently, the Class A Common Stock will dawn upon the New York Stock Exchange (NYSE) on September 9, 2024, under its irrefutable trading symbol “BKSY.”
Post-metamorphosis, the Class A Common Stock’s CUSIP number will receive a makeover, crowned as 09263B 207. BlackSky’s publicly traded warrants will maintain their robust presence on the NYSE under the watchful eye of the symbol “BKSY.W,” with their CUSIP number standing steadfast.
When the Reverse Stock Split transpires, every eight shares of the Class A Common Stock will conspire to morph into one fresh share of Class A Common Stock. This act of financial alchemy, however, shall leave untouched the number of authorized shares of Class A Common Stock as well as BlackSky’s cherished preferred stock. Not to be overlooked, the par value per share of the Class A Common Stock remains snugly snug at $0.0001.
Delving deeper into the labyrinth of financial intricacies, the Reverse Stock Split heralds proportionate adjustments to the per share exercise price. This price dance extends to the number of shares issuable upon the exercise or settlement of all existing BlackSky options and restricted stock units. Moreover, the number of shares earmarked for issuance via BlackSky’s equity incentive plans will undergo a proportional trim. Entangled in this web of change, BlackSky’s outstanding warrants will also sway to the tune of adjustment, empowering each publicly traded warrant to unlock 1/8th of a share of Class A Common Stock at an exercise price of $92.00 per whole share.
The financial metamorphosis shall unfurl without a hint of fractional shares. Stockholders teetering on the brink of fractional share territory shall be nestled in safety, receiving a cash payment (sans interest) in lieu thereof. This financial lifeboat shall sail upon the waves of the number of shares of Class A Common Stock sheltered before the Reverse Stock Split, shaded in the closing price per share of the Class A Common Stock on the NYSE come September 6, 2024.
Standing sentinel as the transfer and exchange agent for the Reverse Stock Split is the esteemed Continental Stock Transfer & Trust Company. Registered stockholders ensconced in the bosom of holding shares of Class A Common Stock shall bask in inaction, requiring not a finger to embrace post-reverse split shares. Conversely, stockholders steering their ships through brokers, banks, trusts, or other nominees shall undergo a seamless adjustment of their positions, mirroring the Reverse Stock Split’s influence without the need for interference.
For those yearning for deeper insights, the annals of the Reverse Stock Split’s depths are but a click away within BlackSky’s definitive proxy statement, a treasure trove unveiled before the Securities and Exchange Commission (SEC) on July 25, 2024. The voyage to enlightenment is ever open, beckoning seekers to unfurl the mysteries held within. Step forth into the realm of knowledge, anchored uniquely at the SEC’s website or BlackSky’s domain.
The Constellation Unveiled: The Essence of BlackSky
BlackSky emerges as a real-time luminary, a space-based herald of intelligence navigating the cosmos of innovation. Paving the way for on-demand clarity, BlackSky’s prowess in high-frequency imagery, analytics, and monitoring stands unrivaled. The fabled BlackSky Spectra® tasking and analytics software platform converge seamlessly with the proprietary low earth orbit satellite constellation. Together, they craft a symphony of intelligence chiseled with unparalleled precision.
In the ever-shifting landscape of decision-making, BlackSky stands firm as the harbinger of change. Armed with the tools to see, interpret, and predict transformation, customers gain not just speed, but precedence. With a nod of trust from the echelons of U.S. and global government agencies, commercial enterprises, and organizations, BlackSky’s crown of credibility gleams brightly. Herndon, VA, serves as the hallowed grounds for BlackSky’s headquarters, as they traverse the labyrinth of the NYSE under the banner “BKSY.” To venture further into the realms of knowledge, embark on a journey at BlackSky’s digital enclave or follow the trail on Twitter.
The Crystal Ball: Glimpsing into the Future
Peering beyond the veil of time, the canvas of BlackSky’s future unfurls before our eyes. This missive of possibility, draped in the finery of forward-looking statements, guides the curious through the realm of conjecture. The path ahead, paved with the words “believe,” “project,” and “anticipate,” teems with opportunities and risks alike.
In this voyage through the financial cosmos, the Reverse Stock Split looms as a mere segment of the constellation. While the prognostications dance with potential, the specter of uncertainties casts a shadow over the narrative. As the days unfold and events cascade like shooting stars across the night sky, the tides of change are bound to shape BlackSky’s narrative.
The journey through these uncharted waters finds solace in the knowledge that each wave of transformation begets a ripple of adaptation. As the world turns and the markets ebb and flow, BlackSky stands resolute, a bastion of resilience and evolution.
Light must mingle with shadow, and in this eternal dance of balance, BlackSky finds its foothold. The future beckons, a realm of unforeseen vistas and untold horizons. And in this grand tapestry of change, BlackSky stands poised, a beacon shining brightly amidst the constellations of possibility.
Dive deeper into the oracle of the future, unearth the hidden truths enshrined within the cloisters of BlackSky’s disclosures, and grasp the essence of what is yet to transpire. The financial seas beckon, and the course is set. Venture forth, intrepid investors, and chart the course through the tempestuous waters of the market.
Embark upon enlightenment at businesswire.com: https://www.businesswire.com/news/home/20240904012067/en/
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