PARIS— Not all SPACs are alike. That’s the message geospatial imaging and data-analytics provider BlackSky Holdings Inc. wants to pass to investors on its proposed merger with Osprey Technology Acquisition Corp. and eventual listing on the New York Stock Exchange.

The publicly traded BlackSky is expected to have a pro-forma quit value of about $1.5 billion, with $450 million in cash from the transaction — enough to accelerate the company’s satellite-deployment and software development plans.

BlackSky and Osprey . . .

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