-- Satellogic (SATL) said Thursday it has signed a $12 million agreement with an unnamed sovereign defense customer to deliver a commissioned, in-orbit NewSat satellite from its operational Aleph-1 constellation.
The company said the deal transfers full ownership and operational control of the satellite to the customer and that it will also provide technical support to help the customer independently command the craft and process data for military and civilian use.
Satellogic said the transfer process will begin immediately and is expected to be completed in early 2027, subject to contractual and regulatory milestones.
Shares of Satellogic were up 6.4% in Thursday trading.
Price: $6.55, Change: $+0.40, Percent Change: +6.42%