Our Private Equity Group provides trusted counsel derived from deep industry knowledge to established as well as up-and-coming private equity firms. We represent firms of every size across the spectrum of investment strategies, and we build long-standing relationships with our clients. As active participants in the private equity industry, we are able to advise our clients on the latest innovations, as well as current market practices and trends.
Liberty Strategic Capital to Invest in Satellogic
- Client News
- January 18, 2022
Paul, Weiss is advising Liberty Strategic Capital, a private equity firm founded and led by former Treasury Secretary Steven Mnuchin, in its $150 million investment in Satellogic, Inc., which specializes in high-resolution imagery of the Earth’s surface obtained through a constellation of low earth orbit satellites. The investment is contingent upon the closing of Satellogic’s planned merger with special purpose acquisition company (SPAC) CF Acquisition Corp. V, sponsored by Cantor Fitzgerald, which will take Satellogic public.
In exchange for its investment, Liberty will receive 20 million Class A ordinary shares of Satellogic at $7.50 per share, as well as 5 million warrants with a strike price of $10 per share and 15 million warrants with a strike price of $15 per share. Liberty will also secure two board seats, with Secretary Mnuchin joining Satellogic’s board of directors as non-executive chairman. The investment is Liberty’s third since its founding, and brings Satellogic’s total capital raised to more than $265 million.
The Paul, Weiss team includes corporate partners Ellen Ching, Matthew Abbott, Marco Masotti and Raphael Russo and counsel Philip Heimowitz; tax partners Matthew Jordan and Scott Sontag; intellectual property partner Jonathan Ashtor and counsel Michael Kurzer; litigation counsel Peter Jaffe, Steven Herzog and Rachel Fiorill; and international trade counsel Richard Elliott.