Satellogic US$30m secured convertible notes (Tether)
Operating liquidity for the US and national security strategy
Key terms
- Borrower or issuer
- Satellogic
- Date
- 15 Apr 2024
- Type
- Convertible
- Amount
- US$30m
- Pricing
- Floating rate
Recorded terms
- Structure
- Floating-rate secured convertible promissory notes issued by Nettar Group, with capacity up to US$50m
- Lenders and arrangers
- Tether Investments Limited
- Country
- United States
Parties
- Satellogic borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 1 Feb 2024 | Rocket Lab US$355m 4.25% convertible notes due 2029 | Convertible | US$355m |
| 27 Jan 2025 | AST SpaceMobile US$400m 4.25% convertible senior notes due 2032 | Convertible | US$400m |
| 25 Jun 2025 | AST SpaceMobile US$225m 4.25% convertible notes due 2032 (additional) | Convertible | US$225m |
| 25 Jun 2025 | Isar Aerospace €150m convertible bond (Eldridge Industries) | Convertible | €150m |
| 22 Jul 2025 | BlackSky US$160m 8.25% convertible senior notes due 2033 | Convertible | US$160m |
Sources
About this record
Record ORB-2024-0012, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A convertible pays a low coupon because holders can swap the notes for shares above a premium; capped calls and the conversion price set the dilution.
