Benzinga | Mar 18, 2021 05:40AM EDT

Maxar Technologies Priced 10M Share Offering of Common Stock @$40/Share

Maxar Technologies Inc. (NYSE:MAXR) 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.