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Maxar Technologies Inc. announced the successful closing of a $500 million offering of 7.750% senior secured notes due 2027. The notes are intended to enhance financial flexibility and address upcoming debt maturities. In conjunction with this, the company amended its existing syndicated credit facility, extending maturity dates and increasing total term loans outstanding to $1.5 billion. Additionally, Maxar redeemed its $500 million outstanding 2023 notes, improving its financial positioning ahead of key strategic initiatives.
Maxar Technologies (NYSE:MAXR) announced the pricing of $500 million in 7.75% senior secured notes due 2027. The notes will be offered to qualified institutional buyers and non-U.S. persons, with expected closing around June 14, 2022. The company plans to use net proceeds of approximately $493 million to redeem existing 9.75% senior secured notes due 2023, with the redemption occurring concurrently with the notes offering. The notes are expected to strengthen Maxar's financial standing while extending the maturity of existing credit facilities.
Maxar Technologies (NYSE:MAXR) announced a private offering of $500 million in senior secured notes due 2027. These notes will be secured by the Company’s subsidiaries and will help fund the redemption of existing 2023 notes. A conditional notice of redemption for the outstanding 9.750% senior secured notes due 2023 has been issued, with the redemption date aligned with the notes offering closing. The offering is subject to market conditions and the notes will be offered only to qualified institutional buyers, not registered under the U.S. Securities Act.
Maxar Technologies (NYSE:MAXR) announced updates regarding its financial guidance and an award from the U.S. National Reconnaissance Office during a conference call scheduled for May 25, 2022. The company tightened its FY2022 revenue and Adjusted EBITDA range, projecting Earth Intelligence revenue between $1,170M and $1,220M, and total company revenue from $1,805M to $1,855M. Adjusted EBITDA is expected to be between $520M and $555M for Earth Intelligence and $455M to $505M for the total company.
Maxar Technologies (NYSE:MAXR) has secured a five-year contract for Electro-Optical Commercial Layer (EOCL) services from the U.S. National Reconnaissance Office (NRO), marking the largest commercial imagery contract awarded by the NRO. This contract extends Maxar’s long-term partnership with the U.S. Government, transitioning from previous contracts and enhancing capabilities in various imaging technologies. The flexible structure of the EOCL contract emphasizes the U.S. Government's commitment to leveraging commercial imagery for defense and intelligence missions through 2032.
Maxar Technologies has been awarded a Basic Ordering Agreement (BOA) by the Joint Artificial Intelligence Center (JAIC), valued at
Maxar Technologies (NYSE:MAXR) held its annual meeting of stockholders on May 11, 2022, with 58,491,005 shares representing about 79.71% of total Common Shares voting. All director nominees were elected, with significant support for Howell M. Estes III, Nick S. Cyprus, and Roxanne J. Decyk. Additionally, stockholders approved executive compensation and ratified the appointment of KPMG LLP as the independent public accounting firm. The company continues to provide comprehensive space solutions and geospatial intelligence.
Maxar Technologies (NYSE:MAXR) reported financial results for Q1 2022, showcasing consolidated revenues of $405 million, an increase from $392 million year-over-year. The net loss narrowed to $7 million from $84 million in Q1 2021, with a diluted net loss per share of $0.10. Adjusted EBITDA rose to $84 million, marking a margin of 20.7%. The company noted a total backlog of $1,621 million and anticipates further growth in execution and opportunities despite increased operational costs.
Maxar Technologies (NYSE:MAXR) announced that its senior management will present at the Goldman Sachs Industrials and Materials Conference on May 12, 2022, at 9:10 a.m. PDT. The presentation will be accessible via webcast on the Maxar investor website. Maxar specializes in comprehensive space solutions and geospatial intelligence, delivering value to government and commercial sectors.
Maxar Technologies (NYSE:MAXR) will release its first quarter 2022 financial results on May 9, 2022, after market hours. A conference call, led by President Daniel Jablonsky and CFO Biggs Porter, is scheduled for 3:00 PM MT (5:00 PM ET) on the same day to discuss the results and conduct a Q&A session. Registration is required for participants, and a replay of the call will be available from May 9, 2022, at 6:00 PM MT until May 23, 2022. For more information, visit Maxar's investor relations page.
