Satellogic Inc. (SATL) shares are experiencing an after-hours boost following the announcement of a strategic partnership with Palantir Technologies. This collaboration is expected to enhance Satellogic's capabilities in satellite imagery collection and data analytics, potentially opening new avenues for growth and innovation. The partnership with Palantir, known for its advanced data analytics platforms, is seen as a significant step for Satellogic in expanding its market reach and technological prowess.
Additionally, the company recently entered into a share purchase agreement with a single institutional investor, agreeing to issue and sell 3.57 million Class A Ordinary Shares in a private placement. This move is anticipated to provide Satellogic with additional capital to support its strategic initiatives and expansion plans. The private placement, coupled with the new partnership, has likely contributed to the positive sentiment around the stock.
The current price of Satellogic's stock is $4.94, reflecting a 4.22% increase in after-hours trading, following a close at $4.74 on December 9, 2024.