Geospatial Intelligence Company Adds Marketing and Growth Executives to Leadership Team
HERNDON, Va. — (BUSINESS WIRE) — June 30, 2021 — BlackSky Holdings, Inc. (“BlackSky”), a leading technology platform providing real-time geospatial intelligence and global monitoring, today announced that Dr. Magid M. Abraham and Tim Harvey will join BlackSky’s Board of Directors effective upon the completion of the planned business combination with Osprey Technology Acquisition Corp. (“Osprey”) (NYSE: SFTW).
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Dr. Magid M. Abraham (Photo: Business Wire)
Dr. Abraham and Mr. Harvey each bring decades of experience leading dynamic, rapidly scaling software companies with expertise building and bringing to market data and analytics applications across various industries.
Dr. Abraham is a leading expert on consumer and market measurement and analytics and providing syndicated subscription-based information services to multiple industries. He co-founded and served as president or CEO of multiple companies including comScore, a media and analytics company, and NeuraWell Therapeutics, which develops medicine and treatment for mental health conditions.
“I look forward to shaping the future of BlackSky and helping the company market its powerful analytics platform in new ways and to new audiences,” said Dr. Abraham. “The geospatial intelligence BlackSky delivers has created a whole new meaning for real-time insights to public and private customers. There’s a bright future ahead for the company and I’m excited to be part of it.”
Mr. Harvey is currently executive chairman of VTS Inc., the leading software platform for leasing and asset management in the commercial real estate industry. He has served as CEO of several fast-growing technology companies that offer software and services across a variety of industries. Before joining VTS, Mr. Harvey served as president of commercial solutions at BAE Systems Plc (LON: BA), a leading global defense, aerospace, and security company.
“We are at a significant inflection point for the space industry,” commented Mr. Harvey. “BlackSky has proven itself as a company to watch. I’m thrilled to join the Board during this period of swift advancement and eager to ensure the company’s continued growth and success.”
“We’re extremely pleased to welcome Magid and Tim to our Board at this exciting time as BlackSky’s business accelerates,” said Brian E. O’Toole, CEO of BlackSky. “Magid’s deep understanding of analytics platforms will be a tremendous asset as we continue our rapid growth and expansion into new markets; Tim’s experience as a leader of several successful, high-growth software companies, including in the defense and aerospace industry, will be a major asset to us. As a former U.S. Marine Corps officer, Tim understands the importance of precise geospatial intelligence in protecting our troops. BlackSky will benefit greatly from their guidance.”
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.
