BUZZ-Satellogic descends on $50 mln stock sale plans
Reuters03-31
BUZZ-<a href="https://laohu8.com/S/SATL">Satellogic</a> descends on $50 mln stock sale plans
** Satellogic's SATL.O shares down 6.8% before the bell at $4.63 as it seeks to raise equity
** Davidson, North Carolina-based satellite imaging and data firm late Mon filed up to $50 mln ATM (at the market) stock offering to be handled by Cantor, Craig-Hallum, Northland Capital and Roth Capital
** It intends to use net proceeds for general corp purposes
** Co has ~143.1 mln shares outstanding for roughly $700 mln market cap
** Stock on Mon fell ~16% to close at $4.97, trimming YTD gain to 166%
** All 4 analysts covering the stock rate it "buy"; median PT $5.65
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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