04:36 PM EDT, 07/17/2025 (MT Newswires) -- BlackSky Technology ( BKSY/WS ) said late Thursday it is planning to sell $125 million of convertible senior notes due 2033 to institutional buyers in a private offering.

The company said it plans to grant initial purchasers a 13-day option to purchase up to an additional $18.75 million of the notes.

BlackSky ( BKSY/WS ) said it plans to use the net proceeds to repay debt as well as for general corporate purposes.

Shares were down about 25% during after-hours trading.