BlackSky Technology (NYSE: BKSY) shares are down 20.36% in pre-market trading, falling to $22.53 on Friday, July 18, 2025. This marks a sharp decline from the previous closing price of $28.29.
The drop follows the company’s announcement of a $160 million offering of 8.25% Convertible Senior Notes due 2033, an increase from the initially planned $125 million. The private offering is expected to close on July 22, 2025, with proceeds earmarked to repay and terminate BlackSky’s secured term loan facility, repay borrowings, and support general corporate purposes.
