Satellogic Signs New Multiple Launch Agreement with SpaceX
May 4, 2022 By MarketDepth
Satellogic Inc. (NASDAQ: SATL) today announced that it had signed a new Multiple Launch Agreement with SpaceX reserving launch capacity for its next 68 satellites.
Shares Up 16% Premarket
Shares of Satellogic Inc. (NASDAQ: SATL) gained over 16% during the premarket trading session.
This new MLA follows the current MLA covering 2022 launches, and confirms that SpaceX continues to be Satellogic’s preferred vendor for rideshare missions.
“Following our previous launch successes with SpaceX, we are pleased to have signed this MLA to continue our work together in 2023 and beyond. Today’s announcement ensures that we will be able to continue to launch our satellites as they are produced and that we remain on track to collect every square meter of the Earth’s surface every week in 2023, providing our customers with the most up-to-date, reliable high-resolution data source on a global scale. Expanding our capacity is crucial to making Earth Observation data affordable and accessible for everyone.”
Emiliano Kargieman, CEO and Co-Founder of Satellogic
SpaceX’s frequent launch schedule will help Satellogic accomplish its goals to significantly grow its constellation and the agreement positions the company to achieve weekly remapping of the entire surface of the Earth in 2023 and over 20 daily revisits of any point of interest.
