04:16 AM EDT, 07/18/2025 (MT Newswires) -- BlackSky Technology ( BKSY/WS ) said Friday it has priced a $160 million private offering of 8.25% convertible senior notes due 2033.

The conversion rate of the notes will initially be 27.1909 shares per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $36.78 per share, or a premium of about 30% over the last reported sale price, the company said.

BlackSky ( BKSY/WS ) said it has also granted the initial purchasers a 13-day option to purchase for up to $25 million worth of additional notes.

The offering, which is expected to close on Tuesday, was increased from the previously announced $125 million, the company said.

BlackSky ( BKSY/WS ) said it estimates net proceeds of about $153.7 million, or $177.9 million if the additional notes are purchased, which it intends to pay down other debt and for general corporate purposes.