Collaboration to Expand Delivery of
High-Resolution Imagery and Deep Analytics
BlackSky Holdings, Inc. (“BlackSky”), a leading technology
platform providing real-time geospatial intelligence and global
monitoring, announced today that Palantir Technologies Inc. (NYSE:
PLTR) has committed to making an equity investment in BlackSky,
which is scheduled to close after the completion of BlackSky’s
business combination with Osprey Technology Acquisition Corp
(“Osprey”). Following the successful completion of a joint pilot
program between BlackSky and Palantir, this investment signifies
the strengthening of a strategic collaboration that will enable
BlackSky to further extend its capabilities and meet the increasing
demand for global monitoring services from its and Palantir’s
customers.
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BlackSky Imagery Integrated into Palantir
Foundry (Graphic: Business Wire)
Through the pilot project, BlackSky automatically delivered
insights and intelligence to Palantir customers within minutes of
collection, without any human interaction. The ability to quickly
deliver worldwide intelligence that can inform proactive strategic
decision-making introduces a significant advantage in
time-sensitive operations.
“This collaboration further enables BlackSky to put the power of
real-time intelligence in the hands of the user by allowing
Palantir customers to directly task our satellites, reduce
decision-making timelines and increase the delivery of on-demand
insights,” said Brian E. O’Toole, CEO of BlackSky. “Our partnership
with Palantir will accelerate our go-to-market plan, expanding our
pipeline of commercial and government customers around the
world.”
To extend the benefits demonstrated by the pilot project,
BlackSky also has entered into a multi-year software subscription
agreement with Palantir to access Palantir Foundry, an enterprise
platform run by Palantir. BlackSky will offer a combined solution
that integrates Spectra AI with Palantir Foundry to expand the
delivery of high-resolution imagery and deep analytics to customers
worldwide. The capabilities of the combined solution were
successfully demonstrated in a series of exercises with experienced
geospatial intelligence customers earlier this year.
Through the collective capabilities of BlackSky and Palantir,
this collaboration increases access to time-sensitive global
intelligence that can aid in predicting events. BlackSky will
leverage this alliance to meet the unprecedented demand for
real-time actionable intelligence.
“BlackSky is a strong partner to Palantir and reinforces our
shared goals around compressing decision-chains for operational
users at the edge,” said Shyam Sankar, COO of Palantir
Technologies. “Through the licensing agreement, customers will gain
tailored insights from increasingly sophisticated orbital sensors
and AI, integrated into their decision-making operating system.
This partnership directly connects space sensors to action,
accelerating operations across domains, from space to mud.”
Earlier this year, BlackSky announced a planned business
combination with Osprey Technology Acquisition Corp. (NYSE: SFTW).
Osprey will hold the special meeting of stockholders on September
8, 2021 at 10:00 a.m. ET to, among other things, allow its
stockholders to vote to approve the proposed business combination
with BlackSky.
About BlackSky Holdings, Inc.
BlackSky is a leading provider of real-time geospatial
intelligence. BlackSky monitors activities and facilities worldwide
by harnessing the world’s emerging sensor networks and leveraging
its own satellite constellation. BlackSky processes millions of
data elements daily from its constellation as well as a variety of
space, IoT, and terrestrial-based sensors and data feeds.
BlackSky’s on-demand constellation of satellites can image a
location multiple times throughout the day. BlackSky monitors for
pattern-of-life anomalies to produce alerts and enhance situational
awareness. BlackSky’s monitoring service, Spectra AI, is powered by
cutting-edge compute techniques, including machine learning,
artificial intelligence, computer vision, and natural language
processing. BlackSky’s global monitoring solution is available via
a simple subscription and requires no IT infrastructure or setup.
On February 17, 2021, BlackSky entered into a definitive agreement
for a business combination (the “Merger Agreement”) with Osprey
Technology Acquisition Corp. (“Osprey”) (NYSE: SFTW) that would
result in BlackSky becoming a publicly listed company. For more
information, visit www.blacksky.com.
About Osprey
Osprey is a special purpose acquisition company, or SPAC, that
was established as a collaboration between investment firms HEPCO
Capital Management, led by Jonathan and Edward Cohen, and JANA
Partners, led by Barry Rosenstein and with its SPAC initiative led
by JANA Partner David DiDomenico, who serves as Osprey’s CEO,
President, and Director. Osprey was formed to consummate a
transaction with one or more transformative companies that have
developed innovative software delivery platforms. For more
information, visit www.osprey-technology.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document contains certain forward-looking statements within
the meaning of the federal securities laws with respect to the
proposed transactions between Osprey and BlackSky. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this document, including but not
limited to: (i) the risk that the transactions may not be completed
in a timely manner or at all, which may adversely affect the price
of Osprey’s securities, (ii) the risk that the transactions may not
be completed by Osprey’s Business Combination deadline and the
potential failure to obtain an extension of the Business
Combination deadline if sought by Osprey, (iii) the failure to
satisfy the conditions to the consummation of the transactions,
including the adoption of the Merger Agreement by the stockholders
of Osprey, the satisfaction of the minimum trust account amount
following redemptions by Osprey’s public stockholders and the
receipt of certain governmental and regulatory approvals, (iv) the
lack of a third-party valuation in determining whether or not to
pursue the proposed transactions, (v) the inability to complete the
PIPE Investment, (vi) the occurrence of any event, change or other
circumstance that could give rise to the termination of the Merger
Agreement, (vii) the effect of the announcement or pendency of the
transactions on BlackSky’s business relationships, operating
results, and business generally, (viii) risks that the proposed
transactions disrupt current plans and operations of BlackSky, (ix)
the outcome of any legal proceedings that may be instituted against
BlackSky or against the Osprey related to the Merger Agreement or
the proposed transactions, (x) the ability to maintain the listing
of Osprey’s securities on a national securities exchange, (xi)
changes in the competitive and regulated industries in which
BlackSky operates, variations in operating performance across
competitors, changes in laws and regulations affecting BlackSky’s
business and changes in the combined capital structure, (xii) the
ability to implement business plans, forecasts, and other
expectations after the completion of the proposed transactions, and
identify and realize additional opportunities (xiii) the
performance of our third-party service providers, including our
satellite manufacturer and launch providers, (xiv) risks related to
delays or cancellations from current or expected customers, (xv)
the risk that redemptions by Osprey’s public stockholders may
require the combined company to seek additional equity and/or debt
financing to fund its business plan, and (xvi) the effects of
natural disasters, terrorist attacks and the spread and/or
abatement of infectious diseases, such as COVID-19, on the proposed
transactions or on the ability to implement business plans,
forecasts, and other expectations after the completion of the
proposed transactions. The foregoing list of factors is not
exhaustive. You should carefully consider the foregoing factors and
the other risks and uncertainties described in the “Risk Factors”
section of Osprey’s registration on Form S-1 (File No. 333-234180),
the registration statement on Form S-4 discussed below and other
documents filed by Osprey from time to time with the U.S.
Securities and Exchange Commission (the “SEC”). These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Osprey and BlackSky assume no obligation and do not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Neither
Osprey nor BlackSky gives any assurance that either Osprey or
BlackSky, or the combined company, will achieve its
expectations.
Additional Information and Where to Find It
This document relates to the proposed transactions between
Osprey and BlackSky. This document does not constitute an offer to
sell or exchange, or the solicitation of an offer to buy or
exchange, any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. On May 13, 2021, Osprey
filed a registration statement on Form S-4 with the SEC, as amended
on June 25, 2021, July 14, 2021, and August 2, 2021, which included
a document that serves as a prospectus and proxy statement of
Osprey, referred to as a proxy statement/prospectus. In connection
with the proposed business combination, on August 11, 2021, Osprey
filed with the SEC a definitive proxy statement/prospectus. Osprey
commenced mailing the definitive proxy statement/prospectus to its
stockholders on August 11, 2021. A proxy statement/prospectus will
be sent to all Osprey stockholders. Osprey also will file other
documents regarding the proposed transactions with the SEC. Before
making any voting or investment decision, investors and security
holders of Osprey are urged to read the registration statement, the
proxy statement/prospectus and all other relevant documents filed
or that will be filed with the SEC in connection with the proposed
transactions as they become available because they will contain
important information about the proposed transactions.
Investors and security holders will be able to obtain free
copies of the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by Osprey through the website maintained
by the SEC at www.sec.gov.
The documents filed by Osprey with the SEC also may be obtained
free of charge at Osprey’s website at
https://www.osprey-technology.com or from Osprey upon written
request to 1845 Walnut Street, Suite 1111, Philadelphia,
Pennsylvania 19103.
Participants in Solicitation
Osprey and BlackSky and their directors and executive officers
may be deemed to be participants in the solicitation of proxies
from Osprey’s stockholders in connection with the proposed
transactions. Osprey’s stockholders and other interested persons
may obtain, without charge, more detailed information regarding the
directors and officers of Osprey in Osprey’s Annual Report on Form
10-K/A for the fiscal year ended December 31, 2020, which was filed
with the SEC on May 12, 2021, and in Osprey’s registration
statement on Form S-4, which was filed by Osprey with the SEC in
connection with the business combination on May 13, 2021.
Information regarding the persons who may, under SEC rules, be
deemed participants in the solicitation of proxies to Osprey’s
stockholders in connection with the proposed business combination
is set forth in the proxy statement/prospectus on Form S-4 for the
proposed business combination, which was filed by Osprey with the
SEC in connection with the business combination on May 13, 2021, as
amended on June 25, 2021, July 14, 2021, and August 2, 2021.
A list of the names of such directors and executive officers and
information regarding their interests in the transactions will be
contained in the proxy statement/prospectus. You may obtain free
copies of these documents as described in the preceding
paragraph.
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval, nor shall there be any sale of any securities
in any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of such other jurisdiction.
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Janae Frisch janae@communiquepr.com Office: 206-282-4923 ext.
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