NightDragon Growth I Converts $206M in Preferred Stock and Warrants to Common Shares Post-IPO

summarizeSummary

NightDragon Growth I, a pre-IPO investor, converted over $206 million of preferred stock and warrants into common shares of HawkEye 360, Inc. following the company's recent IPO.

check_boxKey Events

• Major Pre-IPO Investor Conversion

  NightDragon Growth I, L.P. converted 5,841,537 shares of preferred stock into common shares, valued at approximately $201.6 million.

• Warrant Exercise

  The fund also exercised warrants for 129,453 common shares, valued at approximately $4.5 million, with some shares withheld by the issuer for cashless exercise.

• Post-IPO Share Structure Impact

  These mandatory transactions, totaling over $206 million, represent a significant shift in the company's ownership structure and public float following its recent IPO.

auto_awesomeAnalysis

This Form 4 reports the mandatory conversion of preferred stock and exercise of warrants by NightDragon Growth I, L.P., a pre-IPO investor, into common shares of HawkEye 360, Inc. The transactions, totaling over $206 million, occurred automatically upon the company's recent Initial Public Offering. This significantly impacts the public float and the ownership structure, as a major investor's holdings are now in publicly tradable common stock.