Maxar Technologies Announces Sale of $400 Million of Common Stock
March 17 2021 - 9:41PM
Business Wire
Maxar Technologies Inc. (NYSE:MAXR) (TSX:MAXR) (“Maxar” or the
“Company”), a trusted partner and innovator in Earth Intelligence
and Space Infrastructure, today announced the pricing of its
previously announced underwritten public offering of $400 million
of shares of common stock, par value $0.0001 per share, of the
Company at a public offering price of $40 per share of common
stock. The Company has granted the underwriters of the offering a
30-day option to purchase up to $60 million of additional shares of
common stock. The offering is expected to close on or about March
22, 2021, subject to customary closing conditions. The Company
intends to use all of the net proceeds to fund the redemption of a
portion of its outstanding 9.75% Senior Secured Notes due 2023, and
for general corporate purposes.
In connection with the offering, the Company and its directors
and executive officers have each agreed to enter into a customary
lock-up agreement with the underwriters for the offering.
Goldman Sachs & Co. LLC, Morgan Stanley and Barclays are
acting as lead book-running managers for the offering and BofA
Securities, J.P. Morgan and RBC Capital Markets are also acting as
joint book-running managers.
A shelf registration statement on Form S-3 has been previously
filed with the Securities and Exchange Commission and has become
effective on March 15, 2021. The offering of these securities may
be made only by means of a final prospectus supplement and
accompanying prospectus. A copy of the final prospectus supplement
and accompanying prospectus related to the offering, once
available, can be obtained for free by visiting the Securities and
Exchange Commission’s website at http://www.sec.gov or by
contacting: (a) Goldman Sachs & Co. LLC, Prospectus Department,
200 West Street, New York, NY 10282, telephone: 1-866-471-2526,
facsimile: 212-902-9316 or by emailing
Prospectus-ny@ny.email.gs.com, (b) Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, or (c) Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
by telephone (toll-free): (888) 603-5847 or by emailing:
barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, these securities, nor shall it
constitute an offer, solicitation or sale of these securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
About Maxar
Maxar is a trusted partner and innovator in Earth Intelligence
and Space Infrastructure. Maxar delivers disruptive value to
government and commercial customers to help them monitor,
understand and navigate our changing planet; deliver global
broadband communications; and explore and advance the use of space.
Maxar’s unique approach combines decades of deep mission
understanding and a proven commercial and defense foundation to
deploy solutions and deliver insights with unrivaled speed, scale
and cost effectiveness. Maxar’s 4,300 team members in over 20
global locations are inspired to harness the potential of space to
help our customers create a better world. Maxar trades on the New
York Stock Exchange and Toronto Stock Exchange as MAXR.
Forward-Looking Statements
Certain statements and other information included in this
release constitute "forward-looking information" or
"forward-looking statements" (collectively, "forward-looking
statements") under applicable securities laws. Statements including
words such as "may", "will", "could", "should", "would", "plan",
"potential", "intend", "anticipate", "believe", "estimate" or
"expect" and other words, terms and phrases of similar meaning are
often intended to identify forward-looking statements, although not
all forward-looking statements contain these identifying words.
Forward-looking statements involve estimates, expectations,
projections, goals, forecasts, assumptions, risks and
uncertainties, as well as other statements referring to or
including forward-looking information included in this
presentation.
Forward-looking statements are subject to various risks and
uncertainties which could cause actual results to differ materially
from the anticipated results or expectations expressed in this
presentation. As a result, although management of the Company
believes that the expectations and assumptions on which such
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because the
Company can give no assurance that they will prove to be correct.
The risks that could cause actual results to differ materially from
current expectations include, but are not limited to, the risk
factors and other disclosures about the Company and its business
included in the Company's continuous disclosure materials filed
from time to time with U.S. securities and Canadian regulatory
authorities, which are available online under the Company's EDGAR
profile at www.sec.gov, under the Company's SEDAR profile at
www.sedar.com.
The forward-looking statements contained in this release are
expressly qualified in their entirety by the foregoing cautionary
statements. All such forward-looking statements are based upon data
available as of the date of this presentation or other specified
date and speak only as of such date. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements in this presentation as a result of new information or
future events, except as may be required under applicable
securities legislation.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210317005924/en/
Investor Relations Contact: Jason Gursky Maxar VP
Investor Relations 1-303-684-2207 jason.gursky@maxar.com
Media Contact: Turner Brinton Maxar Media Relations
1-303-684-4545 turner.brinton@maxar.com
Maxar Technologies (NYSE:MAXR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Maxar Technologies (NYSE:MAXR)
Historical Stock Chart
From Apr 2023 to Apr 2024