Friedman Kaplan Advises Satellogic in Investment by Liberty Strategic Capital

January 18, 2022

Friedman Kaplan represented sub-meter resolution satellite imagery collection leader Satellogic in connection with a $150 million investment by private equity firm Liberty Strategic Capital (“Liberty”), founded and led by former U.S. Treasury Secretary Steven T. Mnuchin.

Satellogic’s previously announced business combination with Cantor Fitzgerald’s special purpose acquisition vehicle CF Acquisition Corp. V (“CFV”) and Liberty’s private placement commitment will support Satellogic in its plan to scale its constellation to remap the full surface of the Earth in sub-meter resolution, enabling a host of commercial, sustainability, and government applications. Additionally, Mr. Mnuchin will join Satellogic’s Board of Directors as Chairman along with Howard Lutnick, Chairman and CEO of Cantor Fitzgerald and CFV, who will join as a Director.

Founded in 2010, Satellogic is building the first scalable, fully automated Earth observation platform with the goal of providing daily remaps of the entire planet at high resolution, providing accessible and affordable solutions for customers and democratizing access to geospatial data to help solve pressing global sustainability issues like climate change, energy supply, and food security.

Greenberg Traurig, LLP represented Satellogic together with Friedman Kaplan. Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Liberty, and Hughes Hubbard & Reed LLP represented CFV.

Partners Gregg S. Lerner and Asaf Reindel led Friedman Kaplan’s representation of Satellogic in the negotiation of the business combination agreement with CFV as well in connection with the private placement of equity with Liberty. Friedman Kaplan has also advised Satellogic as outside corporate counsel in connection with prior debt and equity financings and other strategic transactions as well as general corporate matters. More information about the firm’s corporate practice can be found here.

More information about the Liberty investment can be viewed here.