Maples Advises Satellogic Inc on Business Combination with CF Acquisition Corp
Maples and Calder, the Maples Group’s law firm, has advised Satellogic Inc. (“Satellogic”) on the British Virgin Islands (“BVI”) legal aspects of its successful business combination and going public transaction. The business combination was with CF Acquisition Corp. V, a publicly traded special purpose acquisition company sponsored by Cantor Fitzgerald. Through the business combination, Satellogic succeeded Nettar Group Inc. (d/b/a Satellogic) as the group’s parent company, with both incorporated in the BVI. The business combination was completed on 25 January 2022 and Satellogic commenced trading on NASDAQ the following day.
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Satellogic, a leader in sub-meter resolution satellite imagery collection, has proven technology with a strong track record of delivering satellites to orbit and high-resolution data to customers. Satellogic has projected that it will have 202 satellites in orbit by 2025.
Ruairi Bourke, a Corporate Partner based in the firm’s BVI office led the BVI legal team on the transaction alongside US counsels, Friedman Kaplan Seiler & Adelman LLP and Greenberg Traurig LLP.
Commenting on the transaction, Ruairi said, “We are delighted to have supported the team at Satellogic over the past seven years all the way through to this transaction. We wish Satellogic every success as a public company.”
Since 2014, the firm has represented the company as BVI counsel in connection with financing and other transactions as well as general corporate matters.
The Maples Group’s unique ability to provide British Virgin Islands, Cayman Islands, Jersey, Irish and Luxembourg legal advice in addition to its capacity to provide a wide range of corporate services to special purpose acquisition company-related (“SPAC”) entities through its fiduciary business, makes the Group the perfect choice for international businesses considering SPAC IPOs and business combinations.