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Paul, Weiss Advises Credit Suisse in PIPE Investment in BlackSky Merger
- Client News
- February 18, 2021
Practices
Paul, Weiss is representing Credit Suisse Securities LLC as lead capital markets advisor and lead PIPE placement agent for BlackSky Holdings, Inc. in its business combination with special purpose acquisition company Osprey Technology Acquisition Corp. BlackSky is a leading provider of real-time geospatial intelligence and global monitoring services. Upon closing, the combined company, to be known as BlackSky, will become a publicly traded company with an estimated enterprise value of approximately $1.5 billion at the $10.00 per share PIPE price.
The business combination and related financings are expected to provide approximately $450 million in cash to the balance sheet of the combined company, assuming no redemptions and including a fully committed $180 million common stock PIPE. The transaction is expected to close in July 2021, subject to customary closing conditions and approvals.
The Paul, Weiss team includes corporate partner Brian Janson and counsel David Curtiss.