SATL Form 144: Hannover Holdings S.A. Continues Class A Share Sales

Rhea-AI Filing Summary

Satellogic Inc. (SATL) Form 144 notifies the SEC of a proposed sale of 150,000 Class A common shares through J.P. Morgan Securities LLC on 08/25/2025, with an aggregate market value of $543,063. The filer reports holding 90,526,937 shares outstanding in the class and discloses that the shares were originally acquired on 01/25/2022 in an exchange of Nettar Group Inc. convertible notes, resulting in 7,513,892 shares received by the filer on that date.

The filing also lists numerous prior sales by Hannover Holdings S.A. from 05/28/2025 to 08/22/2025, showing ongoing secondary-market dispositions of Class A shares. The filer certifies no undisclosed material adverse information and includes required signature/representation language for Rule 144 reporting.

Positive

• Regulatory compliance: The filer submitted a Form 144 and provided acquisition details and prior sales, meeting disclosure requirements
• Clear provenance: The filing documents the 01/25/2022 acquisition via exchange of Nettar Group Inc. convertible notes

Negative

• Ongoing share dispositions: Numerous secondary-market sales from 05/28/2025 through 08/22/2025 indicate sustained selling pressure by Hannover Holdings S.A.
• Potential supply increase: The planned sale of 150,000 shares adds to recent disposals and could increase available float in the near term

Insights

Financial Analyst

TL;DR: A significant shareholder is executing repeated secondary-market sales, indicating ongoing supply of SATL Class A shares into the market.

The Form 144 documents a planned sale of 150,000 Class A shares valued at $543,063 and records many prior disposals from late May through August 2025. The shares were acquired in a 2022 exchange tied to a merger transaction and represent a portion of the holder's position. For investors, the notable element is the frequency and scale of recent sales, which may increase available float in the short term; the filing itself is routine regulatory disclosure and does not contain operational or earnings information.

Corporate Governance Expert

TL;DR: Form 144 reflects compliance with Rule 144 for scheduled disposals by a holder with prior acquisition via merger exchange.

The document shows the filer is following Rule 144 notice procedures for an intended sale and attests to the absence of undisclosed material information. It provides clear provenance for the shares (exchange on 01/25/2022) and lists numerous recent sales by Hannover Holdings S.A. This is a governance and disclosure event rather than a corporate action; it indicates transparency but also repeated insider-related or large-holder selling activity that stakeholders should note.

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	543063	90526937	08/25/2025	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
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/13/2025	200000	726649
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/14/2025	150000	554303
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/15/2025	150000	533018
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/18/2025	150000	533832
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/19/2025	6433	22804
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/21/2025	150000	531590
Hannover Holdings S.A. c/o Satellogic Inc. 210 Delburg Street Davidson NC 28036	Class A common	08/22/2025	67986	241444

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 is the planned sale reported on the SATL Form 144?

The notice reports an intended sale of 150,000 Class A common shares through J.P. Morgan Securities LLC on 08/25/2025, with aggregate market value of $543,063.

How were the shares being sold originally acquired?

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 agreement.

Does the filing show recent sales activity by the same holder?

Yes. The filing lists multiple sales by Hannover Holdings S.A. between 05/28/2025 and 08/22/2025, covering many transactions in Class A common shares.

Who is the broker named for the proposed sale?

The broker named is J.P. Morgan Securities LLC, located at 390 Madison Avenue, New York, NY, for the 08/25/2025 sale.

What statement does the filer make about material information?

The filer represents they do not know any material adverse information about the issuer that has not been publicly disclosed and signs the required attestation on the Form 144.