SCHEDULE 13G/A 0001535264 XXXXXXXX LIVE 2 Common Stock, Par Value $0.0001 12/31/2025 0001753539 BlackSky Technology Inc. 09263B207 2411 DULLES CORNER PARK SUITE 300 HERNDON VA 20171 Rule 13d-1(b) AWM Investment Company, Inc. DE 1725610.00 0.00 1725610.00 0.00 1725610.00 4.8 IA AWM Investment Company, Inc., a Delaware Corporation (AWM), is the investment adviser to Special Situations Cayman Fund, L.P., Special Situations Fund III QP, L.P., Special Situations Private Equity Fund, L.P., Special Situations Technology Fund, L.P. and Special Situations Technology Fund II, L.P. As the investment adviser to the Funds, AWM holds sole voting and investment power over 208,929 Common Shares held by CAYMAN, 760,061 Common Shares held by SSFQP, 83,367 Common Shares held by SSPE, 106,403 Common Shares and 431,063 Warrants*** to purchase 53,883 Common Shares held by TECH and 561,850 Common Shares and 2,354,608 Warrants*** to purchase 294,326 Common Shares held by TECH II. *** Warrants described herein may only be converted or exercised into Common Shares to the extent that the total number of Common Shares then beneficially owned does not exceed 4.99% of the outstanding shares. BlackSky Technology Inc. 2411 DULLES CORNER PARK, SUITE 300, HERNDON, VIRGINIA, 20171 The person filing this report is AWM Investment Company, Inc., a Delaware corporation (AWM), which is the investment adviser to Special Situations Cayman Fund, L.P., a Cayman Islands Limited Partnership (CAYMAN), Special Situations Fund III QP, L.P., a Delaware limited partnership (SSFQP), Special Situations Private Equity Fund, L.P. a Delaware Limited Partnership (SSPE), Special Situations Technology Fund, L.P., a Delaware limited partnership (TECH) and Special Situations Technology Fund II, L.P., a Delaware limited partnership (TECH II). The principal business of each Fund is to invest in equity and equity-related securities and other securities of any kind or nature. David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are members of: SSCayman, L.L.C., a Delaware limited liability company (SSCAY), the general partner of CAYMAN; members of MGP Advisers Limited Partnership, a Delaware limited partnership (MGP), the general partner of SSFQP, MG Advisers, L.L.C., a New York limited liability company (MG), the general partner of SSPE and SST Advisers, L.L.C., a Delaware limited liability company (SSTA), the general partner of TECH and TECH II. Greenhouse and Stettner are also controlling principals of AWM. 527 Madison Avenue, Suite 2600 New York, NY 10022 AWM is a Delaware Corporation Y 1,725,610 4.8 AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole voting and investment power over 208,929 Shares of Common Stock of the Issuer (the Shares)held by CAYMAN, 760,061 Shares of Common Stock held by SSFQP, 88,367 Shares of Common Stock held by SSPE, 106,403 Shares and 431,063 Warrants*** to purchase 53,883 Shares held by TECH and 561,850 Shares of Common Stock and 2,354,608 Warrants*** to purchase 294,326 Shares held by TECH II. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN; MGP, the general partner of SSFQP and SSTA, the general partner of TECH and TECH II. Greenhouse and Stettner are also controlling principals of AWM. 0 AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole voting and investment power over 208,929 Shares of Common Stock of the Issuer (the Shares)held by CAYMAN, 760,061 Shares of Common Stock held by SSFQP, 88,367 Shares of Common Stock held by SSPE, 106,403 Shares and 431,063 Warrants*** to purchase 53,883 Shares held by TECH and 561,850 Shares of Common Stock and 2,354,608 Warrants*** to purchase 294,326 Shares held by TECH II. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN; MGP, the general partner of SSFQP and SSTA, the general partner of TECH and TECH II. Greenhouse and Stettner are also controlling principals of AWM. 0 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. AWM Investment Company, Inc. Adam Stettner 02/13/2026