The satellite is called CubeSail, and it was constructed by CU Aerospace and engineering students, and it is set to launch at 10 p.m. central from New Zealand. According to the U of I aerospace engineering website, “the Illinois satellite will hitch a ride on a Rocket Lab “Electron” vehicle, as a part of the Educational Launch of Nanosatellites mission for NASA.” There is a “ground station” north of Urbana that will be used to communicate with the satellite.
You can watch the launch via live stream here, and read up on the project here.
Photo from the aerospace engineering website