The Space Investor - 🚀 BlackSky To Reverse Split

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• Last Monday, SLAM agreed to extend the SPAC termination date from August 31st to December 25th amid notice from the Nasdaq as the company was delisted last Tuesday and moved to OTC Markets.
   
• Slam Corp “anticipated” the delisting and noted its ongoing business combination will be "materially unaffected" by the transition. "We look forward to seeing the company trading on the Nasdaq once again at the close of the transaction," said Ryan Bright, CFO of Slam.
   
• Lynk Global and Slam Corp. SPAC announced plans to merge in December 2023. One might wonder what is taking so long? Is it market conditions for space SPACs or a lack of PIPE funding/expected high redemptions? Will Lynk even make it back to the Nasdaq by 2025? Time will tell. 

• In an expected move, BlackSky is joining other space SPACs in their right of passage: a reverse split. The stock has been hanging around $1.00 closely for the last 4-5 months, but the decision was approved by stockholders at annual meeting held on Wednesday.
   
• Reminder: A reverse split does not change the number of common or preferred stock shares. 
   
• BKSY shares fell -20.5% on Thursday following the news and are expected to begin trading on an adjusted basis on Monday, September 9th.

• $PL
  • Cash & Equivalents: $249M
  • Revenue: $61.1M, +14% YoY
  • Net Loss: $(38.7)M vs. $(38.0)M
  • Adj. EBITDA: $(4.4)M vs. $(14.5)M
  • Shares: -28.2% 
     
• $SATX
  • Cash & Equivalents: $7.9M
  • Revenue: $6.1M, +7% YoY
  • Oper. Loss: $(13.7)M vs. $(16.6)M
  • Net Loss: $(21.3)M vs. $(46.3)M
  • Shares: -4.2%

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