https://www.skyandtelescope.com/obse...ing-sculpture/
Initially at 575km, it will slowly tumble towards earth before it'll burn up some time in July. According to an expert, the object's flight path is incalculable - and per design, it seems, uncontrollable as well.
So it'll perform some unpredictable pool billiard-like actions with other space junk, maybe make the ISS get hit in the game? Interesting question I'm sure will be explained during the project's lifetime. So far, I didn't find any info clarifying how that risk was ruled out in the planning phase before the launch had been approved.
The balloon hasn't been jettisoned, yet, as of right now. The southern hemisphere will be the first to enjoy the new 2mag light source.