DigitalGlobe Announces Completion of Early Tender Period for 10.50% Senior Secured Notes
October 11 2011 - 8:13PM
Marketwired
DigitalGlobe (NYSE: DGI) (the "Company"), a leading global content
provider of high-resolution earth imagery solutions, announced
today that, in connection with its previously announced cash tender
offer (the "Offer") to purchase any and all of its outstanding
10.5% Senior Secured Notes due 2014 (CUSIP Number 25389MAC3) (the
"Notes") and related consent solicitation to amend the indenture
and security documents governing the Notes (the "Consent
Solicitation"), the early tender period expired at 5:00 p.m., New
York City time, on October 11, 2011 (the "Consent Payment
Deadline").
The following table shows the amount of Notes validly tendered
and not validly withdrawn at the Consent Payment Deadline:
Principal Amount Percentage of
Tendered as of Outstanding
Principal Amount Consent Payment Notes
Security (CUSIP No.) Outstanding(1) Deadline Tendered
--------------------- ------------------ ------------------- ---------------
10.50% Senior Secured $355,000,000 $355,000,000 100%
Notes due 2014
(CUSIP 25389MAC3)
(1) Refers to the principal amount payable at maturity.
As previously announced, the Company will, subject to
satisfaction of the conditions of the Offer and Consent
Solicitation, purchase for cash any and all of the Notes validly
tendered in the Offer. The Company previously announced that it had
received consents (coupled with tenders) from holders of a majority
in principal amount of Notes to cause the adoption of the proposed
amendments to the indenture and security documents governing the
Notes. A supplemental indenture effecting the proposed amendments
has been executed but such proposed amendments will only become
operative immediately prior to the first acceptance for payment of
all Notes that are validly tendered (and not previously
withdrawn).
The Offer and Consent Solicitation is being made upon the terms
and conditions set forth in the Offer to Purchase and Consent
Solicitation Statement, dated September 21, 2011 and the related
Letter of Transmittal and Consent as revised by the Company's press
release dated October 3, 2011 (collectively, the "Offer
Documents"). Further details about the terms and conditions of the
Offer and Consent Solicitation are set forth in the Offer
Documents.
The Company reserves the right, in its sole discretion, to
modify the terms of the Offer and Consent Solicitation, or to waive
or modify any one or more of the conditions thereto, in whole or in
part, at any time on or before the expiration of the Offer and
Consent Solicitation at the end of the day on October 25, 2011, at
midnight, New York City time.
The depositary for the Offer is U.S. Bank National Association
and the information agent is i-Deal, LLC. The Offer Documents were
previously distributed to noteholders. Noteholders with questions
or who would like additional copies of the Offer Documents may call
the information agent, i-Deal, LLC, toll-free at (888) 593-9546.
(Banks and brokers may call collect at (212) 849-5000.) The Dealer
Managers may be contacted at the following numbers: Morgan Stanley
((800) 624-1808 (toll-free), (212) 761-1057 (collect)) and J.P.
Morgan ((800) 245-8812 (toll-free), (212) 270-1200 (collect)).
This news release is for informational purposes only and does
not constitute an offer to buy or the solicitation of an offer to
sell the Notes. The Offer is being made only pursuant to the Offer
Documents that the Company previously distributed to noteholders.
Noteholders should read carefully the Offer Documents because they
contain important information, including the various terms of and
conditions to the Offer. None of the Company, the Dealer Managers,
the solicitation agents, the depositary, the information agent or
their respective affiliates is making any recommendation as to
whether or not noteholders should tender all or any portion of
their Notes in the Offer or deliver their consents in the Consent
Solicitation.
About DigitalGlobe
DigitalGlobe is a leading global provider of commercial
high-resolution earth imagery products and services. Sourced from
our own advanced satellite constellation, our imagery solutions
support a wide variety of uses within defense and intelligence,
civil agencies, mapping and analysis, environmental monitoring, oil
and gas exploration, infrastructure management, Internet portals
and navigation technology. With our collection sources and
comprehensive ImageLibrary (containing more than one billion square
kilometers of earth imagery and imagery products) we offer a range
of on- and off-line products and services designed to enable
customers to easily access and integrate our imagery into their
business operations and applications. For more information, visit
www.digitalglobe.com.
DigitalGlobe is a registered trademark of DigitalGlobe.
Forward Looking Statements
This release may contain forward-looking statements.
Forward-looking statements relate to future events or our future
financial performance. We generally identify forward-looking
statements by terminology such as "may," "will," "should,"
"expects," "plans," "anticipates," "could," "intends," "target,"
"projects," "contemplates," "believes," "estimates," "predicts,"
"potential" or "continue" or the negative of these terms or other
similar words, although not all forward-looking statements contain
these words. These statements are only predictions.
Any forward-looking statements contained in this release are
based upon our historical performance and on our current plans,
estimates and expectations. The inclusion of this forward-looking
information should not be regarded as a representation that the
future plans, estimates or expectations contemplated by us will be
achieved. Such forward-looking statements are subject to various
risks and uncertainties and assumptions relating to our operations,
financial results, financial condition, business, prospects, growth
strategy and liquidity. If one or more of these or other risks or
uncertainties materialize, or if our underlying assumptions prove
to be incorrect, our actual results may vary materially from those
indicated in these statements.
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