Satellogic descends on $50 mln stock sale plans

Satellogic's SATL.O shares down 6.8% before the bell at $4.63 as it seeks to raise equity

Davidson, North Carolina-based satellite imaging and data firm late Mon filed up to $50 mln ATM (at the market) stock offering to be handled by Cantor, Craig-Hallum, Northland Capital and Roth Capital

It intends to use net proceeds for general corp purposes

Co has ~143.1 mln shares outstanding for roughly $700 mln market cap

Stock on Mon fell ~16% to close at $4.97, trimming YTD gain to 166%

All 4 analysts covering the stock rate it "buy"; median PT $5.65