SATL Form 144: Proposed 200K-share resale; ~2.95M shares sold recently

Rhea-AI Filing Summary

Satellogic Inc. filed a Form 144 reporting a proposed sale of 200,000 Class A common shares through J.P. Morgan Securities LLC with an aggregate market value of $726,649, marked for approximately 08/13/2025. The filing shows 90,526,937 shares outstanding, so the proposed sale equals about 0.22% of outstanding stock.

The securities to be sold were originally acquired on 01/25/2022—7,513,892 shares received in an exchange of Nettar Group Inc. convertible notes tied to the company’s merger. The notice also lists extensive disposals by Hannover Holdings S.A. in the prior three months, totaling approximately 2,951,323 Class A shares, indicating sustained selling activity by that holder.

Positive

• None.

Negative

• Proposed sale: Notice to sell 200,000 Class A shares (aggregate market value $726,649) planned for 08/13/2025 via J.P. Morgan.
• Extensive recent disposals: Hannover Holdings S.A. sold approximately 2,951,323 Class A shares in the prior three months, indicating sustained selling activity by that holder.
• Seller affiliation and origin: The shares sold were part of a position of 7,513,892 shares acquired on 01/25/2022 in an exchange of Nettar Group Inc. convertible notes related to the merger.

Insights

Securities Analyst

TL;DR: Form 144 discloses a routine proposed resale and substantial recent disposals totaling ~2.95M shares.

The filing is a standard Rule 144 notice showing a proposed 200,000-share sale via J.P. Morgan with an aggregate market value of $726,649 and an approximate sale date of 08/13/2025. With 90,526,937 shares outstanding, the proposed block represents roughly 0.22% of the float. The holder acquired 7,513,892 shares on 01/25/2022 in an exchange related to a merger transaction. The filing also documents approximately 2,951,323 Class A shares sold by Hannover Holdings S.A. over the prior three months, reflecting ongoing dispositions rather than a single, isolated transaction. For market participants, this is material as supply from an affiliated holder has been significant in recent months, but the Form 144 itself is a compliance disclosure rather than an operational update.

Corporate Governance Expert

TL;DR: Repeated, sizable disposals by an affiliated holder may raise governance and shareholder-concentration questions.

The filing identifies Hannover Holdings S.A. (c/o Satellogic) as the seller for numerous transactions across May–August 2025 and a fresh proposed resale of 200,000 shares. The holder’s original position of 7,513,892 shares originated from an exchange tied to a merger on 01/25/2022. Frequent sales by an affiliated entity and a sequence of filings can be noteworthy for governance review because they affect insider ownership trends and voting concentration. The seller’s signed representation that no undisclosed material information exists is included in the form, consistent with Rule 144 submission requirements.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A common	J.P. Morgan Securities LLC 390 Madison Avenue - 6th Floor New York NY 10017	200000	726649	90526937	08/13/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A common	01/25/2022	Exchange of Nettar Group Inc. convertible notes in connection with the Agreement and Plan of Merger dated July 5, 2021, by and among Satellogic Inc., CF Acquisition Corp. V, Ganymede Merger Sub 1 Inc., Ganymede Merger Sub 2 Inc., and Nettar Group Inc.	Issuer			7513892	01/25/2022	Exchange of Assets

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	05/28/2025	136665	541558
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	05/29/2025	150000	565237
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	05/30/2025	200000	741599
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/02/2025	200000	741235
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/03/2025	179373	665377
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/04/2025	77975	280908
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/05/2025	87744	317914
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/06/2025	50117	178625
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/09/2025	62672	223466
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/10/2025	100000	357077
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/11/2025	10800	39006
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/18/2025	18741	66000
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/20/2025	100000	353720
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/26/2025	100000	373256
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	06/27/2025	100000	374776
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	07/16/2025	100000	358000
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	07/17/2025	150000	558000
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	07/18/2025	1800	6606
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	07/21/2025	71481	250898
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	07/22/2025	16052	55058
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	07/23/2025	37764	136706
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	07/28/2025	1330	4837
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	07/31/2025	43057	144835
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/01/2025	33296	110995
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/04/2025	150000	504739
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/05/2025	150000	517410
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/06/2025	150000	517921
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/07/2025	150000	513346
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/08/2025	150000	515420
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/11/2025	22456	74984
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/12/2025	150000	511885

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did Satellogic (SATL) file in the Form 144?

The Form 144 reports a proposed sale of 200,000 Class A common shares via J.P. Morgan with an aggregate market value of $726,649, dated for 08/13/2025.

Who is the selling party and how many shares do they hold?

The selling party is listed as Hannover Holdings S.A. c/o Satellogic Inc.; the filing shows they acquired 7,513,892 shares on 01/25/2022 in an exchange transaction.

How many shares has Hannover Holdings S.A. sold recently?

The filing lists multiple transactions from May–August 2025 totaling approximately 2,951,323 Class A shares sold in the past three months.

What portion of outstanding shares is the proposed sale?

With 90,526,937 shares outstanding, the proposed 200,000-share sale represents about 0.22% of outstanding stock.

Which broker is handling the proposed sale?

The broker named in the Form 144 is J.P. Morgan Securities LLC, located at 390 Madison Avenue, New York.