Related Party Transactions

6 Months Ended

Jun. 30, 2022

Related Party Transactions

15. Related Party Transactions

A summary of the Company’s related party transactions during the six months ended June 30, 2022 is presented below:

Amount Due to Related Party as of

June 30,

December 31,

2022

2021

Name

Nature of Relationship

Description of the Transactions

(in thousands)

Seahawk

Debt Issuer

In 2019, the Company raised and converted $18.4 million from prior debt into new, outstanding debt and issued 13.5 million warrants to purchase Legacy BlackSky common stock.

19,977

Intelsat

Debt Issuer

In 2019, the Company entered into a term loan facility for $50.0 million and issued 20.2 million warrants to purchase Legacy BlackSky common stock.

54,149


							Amount Due to Related Party as of
			Total Payments in the six months ended June 30,				June 30,		December 31,
	Nature of Relationship		2022		2021		2022		2021
Name		Description of the Transactions	(in thousands)
LeoStella	Joint Venture	Design, development and manufacture of multiple satellites	$	17,149	$	11,226	$	1,537	$	8,381
X-Bow	Equity Method Investee	In 2017, the Company received stock in X-Bow. As of June 30, 2022, the Company had a 15.1% investment in X-Bow and had one Board seat. As described in Note 6, the Company has engaged X-Bow to develop a rocket for the Company.	—		1,865				—
Palantir Technologies	Strategic Partner	Multi-year software subscription agreement for $8.0 million	756		—		—		—
Ursa Space Systems	Strategic Partner	The chairman of the Company’s board of directors, Will Porteous, is also an investor and member of the board of directors of Ursa Space Systems.	333		—		—		83

Interest on the term loan facility is accrued and compounded annually. No significant interest payments were made in the six months ended June 30, 2022 or 2021. The Company had interest due to related parties in the amount of $2.0 million as of June 30, 2022, which has been recorded as accrued interest.