HHR Reps Cantor Fitzgerald SPAC in $850M Merger With Satellogic

July 6, 2021 – Hughes Hubbard is serving as legal counsel to CF Acquisition Corp. V, a special purpose acquisition company (SPAC) sponsored by New York investment firm Cantor Fitzgerald, in a pending transaction with Satellogic that will take the satellite earth imagery provider public. 

On July 5, the companies announced the deal, which values Satellogic at $850 million. The deal is expected to close early in the fourth quarter of 2021, subject to regulatory approvals and other customary closing conditions.

HHR previously advised Cantor Fitzgerald SPACs in business combinations with Chicago asset manager GCM Grosvenor, which closed in November 2020; Silicon Valley smart window company View, which closed in March; and lidar sensor maker AEye, which is expected to close later this year.

Partners Michael Traube and Carlos Lobo, counsel Javad Husain and associate Mariana Veiga lead the HHR team. The team also includes partners Andy Braiterman, Ryan Fayhee, Philip Giordano, Federico Goudie, Alan Kravitz, Ken Lefkowitz, Gus Petropoulos, Gary Simon and Charlie Wachsstock; counsel James Klaiber, Richard Koehl and Carol Remy; and associates Flavio Averbug, Justin Cohen, Tyler Grove, Andrew Herman, Kristin Millay and Jonathan Zygielbaum.

UPDATE: This deal closed on January 25, 2022.