Case study: Skybox Imaging

Prior to its acquisition by Google, Portland Advisers acted as financial advisor to Skybox Imaging Inc,. a company that provides easy access to reliable and frequent high-resolution imagery by combining the power of web technologies and a constellation of microsatellites.

The financing that was being contemplated was an ECA-guaranteed loan to support the procurement of the selected launch services solution, alongside new equity using a conservative level of gearing.

Nick Flitterman and his team worked on the following:

• Review of all available company information, contractual structure and business plan
• Assistance with the preparation of the company Financial Model
• Analysis of financing options, recommendation of preferred structure, taking into account company objectives
• Support to management in presenting recommended financing solution to Board of Directors
• Market testing of proposed financing approach with banks and ECAs, and agreement on way forward
• Preparation of full Information Package for financial institutions and selected ECA
• Assistance with the submission of relevant ECA application
• Preparation of detailed term sheet with lenders and Skybox legal advisors
• Assistance with ECA approval process
• Assistance with negotiation of loan documentation up to signing
• Assistance to Skybox to satisfy conditions precedents to Financial Close.