On April 8, 2026, the Company entered into a securities purchase agreement (the “2026 Purchase Agreement”) with the purchasers named therein for the private placement (the “2026 Private Placement”) of 5,000,000 shares of the Company’s

Class A common stock at a purchase price of $14.00 per share. The aggregate net proceeds from the 2026 Private Placement were approximately $65.5 million, and the 2026 Private Placement closed on April 10, 2026.

On April 23, 2026, the Company received written notice terminating for convenience, effective immediately, the contract pursuant to which the Company agreed to design and develop the WildFireSat constellation of satellites to monitor wildfires in Canada for the Canadian Space Agency. If all contractual milestones had been achieved, the contract would have had an aggregate value of Can$71.8 million, including harmonized sales tax. The Company has the right to submit a settlement proposal with respect to costs arising from the termination of the contract in accordance with the Procedures Information Guide provided by Public Works and Government Services.