Satellogic Stock Under Pressure as Hannover Holdings Continues Share Liquidation

Rhea-AI Filing Summary

Hannover Holdings S.A., an affiliate of Satellogic, has filed a Form 144 notice indicating their intention to sell 100,000 shares of Class A common stock through J.P. Morgan Securities LLC. The proposed sale has an aggregate market value of $374,776 and is planned for execution on NASDAQ around June 27, 2025.

The securities were originally acquired on January 25, 2022, through an exchange of Nettar Group convertible notes in connection with a merger agreement. The initial acquisition involved 7,513,892 shares.

Notable recent trading activity by Hannover Holdings includes:

• Substantial selling over the past 3 months totaling 1,828,957 shares
• Multiple transactions between March-June 2025, with proceeds ranging from $39,006 to $741,599
• Consistent selling pattern with most trades involving 100,000-200,000 share blocks

The total shares outstanding for Satellogic is 90,526,937, making this proposed sale represent approximately 0.11% of the outstanding shares.

Positive

• None.

Negative

• Significant insider selling pattern: Hannover Holdings S.A. has sold approximately 1.83M shares over the past 3 months totaling about $6.75M, indicating consistent selling pressure
• Current proposed sale of 100,000 additional shares continues the substantial liquidation trend, suggesting possible lack of confidence from a major affiliate

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	0001962608
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Satellogic Inc.
SEC File Number	001-41247
Address of Issuer	210 Delburg Street Davidson NORTH CAROLINA 28036
Phone	2063134516
Name of Person for Whose Account the Securities are To Be Sold	Hannover Holdings S.A.
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	Affiliate

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	100000	374776	90526937	06/27/2025	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	03/28/2025	154870	588336
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	03/31/2025	200000	715400
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

144: Remarks and Signature

Remarks
Date of Notice	06/27/2025
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	/s/ J.P. Morgan Securities LLC as agent and attorney-in-fact for Hannover Holdings S.A.
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many SATL shares is Hannover Holdings planning to sell according to the June 2025 Form 144?

According to the Form 144 filing dated June 28, 2025, Hannover Holdings S.A. plans to sell 100,000 shares of SATL Class A common stock through J.P. Morgan Securities LLC, with an aggregate market value of $374,776.

How many SATL shares has Hannover Holdings sold in the past 3 months before this Form 144?

In the three months prior to this Form 144 filing, Hannover Holdings S.A. sold a total of 1,828,957 shares of SATL Class A common stock across 16 different transactions between March 28, 2025, and June 26, 2025, generating total gross proceeds of approximately $6.75 million.

When and how did Hannover Holdings initially acquire its SATL shares?

Hannover Holdings acquired 7,513,892 shares on January 25, 2022, through an exchange of Nettar Group Inc. convertible notes in connection with the Agreement and Plan of Merger dated July 5, 2021, between Satellogic Inc., CF Acquisition Corp. V, and related entities.

What is Hannover Holdings' relationship to SATL?

According to the Form 144 filing, Hannover Holdings S.A. is classified as an Affiliate of Satellogic Inc. (SATL).

How many total SATL shares are outstanding as of the Form 144 filing?

According to the Form 144 filing, Satellogic Inc. (SATL) has 90,526,937 shares outstanding as of June 2025.