Satellogic Adds 9% On Multiple Launch Agreement With SpaceX

(RTTNews) - Shares of Satellogic Inc. (SATL), a leader in sub-meter resolution Earth Observation data collection, are rising more than 9% Wednesday morning after the company announced multiple launch agreement with SpaceX for its next 68 satellites.

This new agreement follows the current one covering 2022 launches, the company said.

"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," stated Emiliano Kargieman, CEO and Co-Founder of Satellogic.

SATL is at $9.82 currently. It has traded in the range of $5.00-$12.33 in the past 52 weeks.