US: Maxar Technologies, formerly MacDonald, Dettwiler and Associates, a leading global provider of advanced space technology solutions for commercial and government markets, announces that it has entered into an agreement to settle all pending litigation with the former holders of 80,000 shares of DigitalGlobe, Series A Convertible Preferred Stock. Under the agreement, the former holders of Series A Convertible Preferred Stock of DigitalGlobe will receive (i) 2,206,464 common shares of Maxar and (ii) a payment in cash for the interest that has accrued on the merger consideration from the closing of the merger.
“We are pleased to have reached a resolution with our preferred shareholders,” said Howard Lance, Chief Executive Officer of Maxar. “Our outlook for debt and leverage ratio levels in 2018, as well as cash flows and EPS, all of which were provided in conjunction with our first quarter earnings release on May 9, 2018, are not impacted by this agreement.”
The completion of the settlement of the preferred shareholders’ appraisal claims, which are pending in the Delaware Chancery Court action styled In re Appraisal of DigitalGlobe, Inc. Common Stock and Preferred Stock, Consol. C.A. No. 2017‑0810, is contingent upon customary terms and conditions, including exchange approvals.