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 Prospectusfirstname.lastname@example.org , (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: email@example.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.
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.
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.
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