Osprey BlackSky $7.5M Securities Class Action Settlement

William C. Gendron

Editor in Chief

Published

February 26, 2026 4:32 PM

Updated

February 26, 2026

Who can file a claim?

The settlement class includes all record and beneficial holders of Osprey Technology Corp. Class A common stock who held shares as of the close of the market on Sept. 6, 2021, and did not redeem all of them in connection with the merger. This includes shares held as part of public units and successors-in-interest who obtained shares by operation of law.

Additional details

Both individuals and entities can be class members.
The actual beneficial holder or a legal representative must submit the claim.
All joint holders must sign the claim form.
Executors, administrators, guardians, conservators and trustees may submit claims on behalf of others and must provide proof of authority.
The class is certified solely for settlement purposes and is a non-opt-out class under Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2), meaning class members cannot exclude themselves from the settlement.

How much can class members get?

The total settlement fund is $7,500,000. The amount each class member receives depends on several factors:

The number of valid claims submitted
The number of shares held as of Sept. 6, 2021, that they did not redeem
What happened to those shares after Sept. 6, 2021
The total recognized claims of all claimants

The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation:

Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
The settlement administrator will calculate each class member's payment based on the recognized claim amount assigned to each share.
Recognized claim amounts depend on what happened to the shares after Sept. 6, 2021. The settlement administrator will calculate them using the court-approved plan of allocation, which applies different formulas depending on when class members held or sold shares.

For shares held as of Sept. 6, 2021, that the class member did not redeem and sold prior to the merger on Sept. 9, 2021, or converted to New BlackSky common stock and sold before the close of the market on May 7, 2024, at a price below $10, the recognized claim is the redemption price of $10.05 minus the sale price plus the $0.10 base amount.
For shares held as of Sept. 6, 2021, that the class member did not redeem and sold prior to the merger on Sept. 9, 2021, or converted to New BlackSky common stock and sold before the close of the market on May 7, 2024, at a price of $10 or greater, the recognized claim is the $0.10 base amount.
For shares held as of Sept. 6, 2021, that the class member did not redeem and converted to New BlackSky common stock and held as of the close of the market on May 7, 2024, the recognized claim is $8.78 (calculated as the redemption price of $10.05 minus $1.27, the closing stock price of New BlackSky on May 7, 2024) plus the $0.10 base amount for a total of $8.88 per share.
For shares redeemed in connection with the merger, the recognized claim is $0.

The settlement administrator will set any recognized claim that calculates to a negative number to $0.
If total recognized claims exceed the net settlement fund, the settlement administrator will reduce payments on a pro rata basis.
Class members whose payment would be less than $10 will not receive a payout.

How to claim an Osprey securities class action settlement payment

Class members may file a claim online or download, print and complete the PDF claim form and mail it to the settlement administrator. The claim deadline is June 19, 2026.

Settlement administrator’s mailing address: Osprey Stockholder Litigation, c/o A.B. Data Ltd. P.O. Box 173139, Milwaukee, WI 53217

Proof or documentation required to submit a claim

All class members must provide the last four digits of their Social Security number or taxpayer identification number. They must also provide holdings and transaction information, including:

Number of shares held as of Sept. 6, 2021
Trade dates for purchases and sales after Sept. 6, 2021, through May 7, 2024
Number of shares purchased, acquired or sold
Total purchase, sale or acquisition price
Number of shares held as of May 7, 2024 (if applicable)

Class members must also provide documentation to support their holdings and transactions in Osprey Class A common stock or BlackSky common stock. Acceptable proof includes:

Broker confirmation slips
Broker account statements
Authorized statements from a broker, financial advisor or financial institution containing the transactional information found in a confirmation slip

Payout options

Check
Electronic payment

$7.5 million settlement fund

The $7,500,000 settlement fund includes:

Settlement administration costs: To be determined
Attorneys' fees and expenses: Up to $1,500,000
Service awards to lead plaintiffs: Up to $10,000 total
Payments to eligible class members: Remainder of the fund

Important dates

Fairness hearing: April 17, 2026
Deadline to file a claim: June 19, 2026

When is the Osprey securities class action settlement payout date?

The settlement administrator will issue payments after it processes all claims and the court resolves any appeals and grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged Osprey's directors, officers and sponsor breached their fiduciary duties and made false and misleading statements in connection with the business combination with BlackSky Holdings Inc. The plaintiffs claimed these actions harmed stockholders by discouraging them from redeeming their shares.

Defendants denied all allegations of wrongdoing but agreed to settle to avoid the costs, risks and delays of continued litigation.