SATL Form 144 shows 150k sale and 2.8M shares sold recently

Rhea-AI Filing Summary

Satellogic Inc. filed a Form 144 reporting a proposed sale of 150,000 Class A common shares through J.P. Morgan Securities LLC with an aggregate market value of $511,885 and the approximate date of sale listed as 08/12/2025. The filing shows total shares outstanding of 90,526,937. It discloses the filer acquired 7,513,892 shares on 01/25/2022 in an exchange of Nettar Group Inc. convertible notes in connection with a merger transaction. The notice also lists extensive dispositions by the same seller between 05/28/2025 and 08/11/2025, totaling 2,801,323 shares sold in that period. The signer certifies no undisclosed material adverse information.

Positive

• Brokered sale via J.P. Morgan Securities LLC indicating use of an established underwriter for execution
• Acquisition origin disclosed: 7,513,892 shares were acquired on 01/25/2022 in an exchange of Nettar Group Inc. convertible notes tied to a merger

Negative

• Substantial recent dispositions: the filing lists 2,801,323 Class A shares sold between 05/28/2025 and 08/11/2025
• Proposed immediate sale: 150,000 Class A shares scheduled for 08/12/2025 (aggregate market value $511,885)

Insights

Securities Analyst

TL;DR: Form 144 notifies a 150k share sale and documents substantial secondary selling of 2.8M shares over three months.

The filing is a routine Rule 144 notice but notable for the scale of recent dispositions by Hannover Holdings S.A., which recorded 2,801,323 Class A shares sold from 05/28/2025 to 08/11/2025. The current proposed block is modest relative to the recent volume but still material in absolute terms at 150,000 shares. Acquisition details — 7,513,892 shares obtained 01/25/2022 via exchange of convertible notes — clarify these holdings originated from a merger-related conversion rather than open-market purchases.

Corporate Governance Expert

TL;DR: The Form 144 documents ongoing affiliated selling and confirms acquisition via a merger exchange.

From a governance perspective, the filing transparently discloses both the source of the shares (exchange in a merger on 01/25/2022) and a sustained pattern of disposals over the last three months totaling 2,801,323 shares. The planned sale of 150,000 shares through a major broker (J.P. Morgan) is consistent with orderly execution. The signature includes the required representation that no material nonpublic information is known to the seller.

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	150000	511885	90526937	08/12/2025	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

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 does Satellogic (SATL) Form 144 report?

The Form 144 reports a proposed sale of 150,000 Class A common shares via J.P. Morgan Securities LLC on 08/12/2025 with an aggregate market value of $511,885.

How many SATL shares were sold by the filer in the past three months?

The filing lists dispositions totaling 2,801,323 Class A shares by Hannover Holdings S.A. between 05/28/2025 and 08/11/2025.

How were the shares being sold originally acquired?

The filing states 7,513,892 shares were acquired on 01/25/2022 through an exchange of Nettar Group Inc. convertible notes in connection with a merger.

Who is the broker listed on the Form 144 for SATL?

The broker named is J.P. Morgan Securities LLC with an address at 390 Madison Avenue, 6th Floor, New York, NY 10017.

Does the filer attest to knowledge of undisclosed material information?

Yes, the signer represents they do not know any material adverse information regarding the issuer that has not been publicly disclosed.