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Maxar Technologies (NYSE:MAXR) has secured a U.S. Army contract valued at up to $48.3 million for geospatial intelligence support services. This Phase III contract, awarded by the Army Combat Capabilities Development Command, will provide services including data analysis for predictive modeling tools like Maxar's Signature Analyst. The contract spans two base years and three option years, with work commencing until March 4, 2023. Maxar aims to enhance military intelligence capabilities through advanced geospatial modeling.
Maxar Technologies (NYSE:MAXR) has announced participation in the Bank of America Securities STAARS 2021 Virtual Summit, with 1x1 meetings scheduled for March 22 and a presentation on March 23 at 1:10 p.m. PDT. Interested investors can access the webcast through Maxar's investor website. Maxar is recognized for its innovation in Earth Intelligence and Space Infrastructure, serving both government and commercial sectors. The company emphasizes its commitment to delivering comprehensive solutions that enhance global communications and exploration of space.
Busek Co. and Maxar Technologies (NYSE: MAXR) announced the successful completion of a hot fire test for the 6-kilowatt solar electric propulsion (SEP) subsystem of NASA's Power and Propulsion Element (PPE) for the lunar Gateway. This system is 30% more powerful than previous SEP systems and includes Maxar's control electronics and four Busek BHT-6000 thrusters. The PPE aims to support NASA's Artemis program and future missions to Mars. Maxar plans to move forward with the spacecraft's Preliminary Design Review later in the year.
Maxar Technologies (NYSE:MAXR) has priced an underwritten public offering of $400 million in common stock at $40 per share, with a 30-day option for underwriters to purchase an additional $60 million. The offering is set to close around March 22, 2021, subject to usual conditions. Proceeds will be used to redeem part of its 9.75% Senior Secured Notes due 2023 and for general corporate purposes. The transaction involves a lock-up agreement for company executives and is managed by major financial institutions such as Goldman Sachs and Morgan Stanley.
Maxar Technologies Inc. (NYSE:MAXR) has announced a public offering of $400 million in common stock, with an additional 30-day option for underwriters to purchase up to $60 million more. The proceeds will be utilized to redeem part of the Company's outstanding 9.75% Senior Secured Notes due 2023 and for general corporate purposes. Goldman Sachs, Morgan Stanley, and Barclays are leading the offering. This follows a shelf registration statement effective since March 15, 2021. Forward-looking statements indicate potential risks and uncertainties surrounding the offering.
Maxar Technologies (NYSE: MAXR) has announced the successful completion of the Critical Design Review (CDR) for its Space Infrastructure Dexterous Robot (SPIDER), developed for NASA. This achievement keeps Maxar on schedule to deliver SPIDER hardware in the first half of 2022 for the OSAM-1 mission, which focuses on robotic assembly and manufacturing in space. SPIDER aims to advance satellite technology by enabling the assembly of larger, more powerful components beyond standard rocket capacity. This project may pave the way for innovative commercial and government space missions.
Maxar Technologies (NYSE: MAXR) has announced participation in several upcoming investor conferences. Key presentations include:
- J.P. Morgan Global High Yield & Leveraged Finance Conference on March 2, 2021, at 10:15 a.m. PST.
- Deutsche Bank 29th Annual Media, Internet, & Telecom Conference on March 9, 2021, at 1:00 p.m. PST, with a webcast available to the public.
- J.P. Morgan Industrials Conference on March 16, 2021, at 2:20 p.m. PDT.
Maxar continues to focus on Earth Intelligence and Space Infrastructure to support government and commercial solutions.
Maxar Technologies reported its financial results for the year ended December 31, 2020, with consolidated revenues of $1,723 million and a net income of $303 million. However, a diluted loss per share from continuing operations was $0.76. The company completed key transactions, including the sale of its MDA Business for $729 million and the acquisition of the remaining 50% of Vricon for $143 million. Adjusted EBITDA stood at $422 million with a margin of 24.5%. Despite these gains, the Earth Intelligence segment saw a decline in revenue, primarily due to a $40 million drop in deferred revenue related to the EnhancedView Contract.
Maxar Technologies (NYSE:MAXR) announced that its subsidiary Vricon, Inc. secured Phase 2 of the U.S Army’s One World Terrain (OWT) contract valued at $39.3 million. This project aims to enhance 3D global terrain capabilities for Army operations. The total potential value of the OWT project, if all phases are exercised, is $94.7 million. Vricon previously completed Phase 1 in late 2020 and will focus on expanding 3D geospatial support across the Army in Phase 2.
Maxar Technologies (NYSE:MAXR) has declared a regular quarterly dividend of $0.01 per share, set to be paid on March 31, 2021, to shareholders on record as of March 15, 2021. This decision highlights the company's commitment to returning value to its shareholders amidst its operations in Earth Intelligence and Space Infrastructure. Maxar aims to provide innovative solutions for monitoring and understanding the changing planet while maintaining a strong commercial foundation.
