Maxar Technologies (NYSE:MAXR) (TSX:MAXR) (“Maxar” or the “Company”), a global technology innovator powering the new space economy, today announced that shareholders approved the Company’s U.S. domestication at a special meeting held earlier today in Westminster, Colorado.
A total of 227 holders of common shares of the Company, representing approximately 76% of the Company’s issued and outstanding common shares, voted in connection with the meeting, with 99.8% voting in favor of the U.S. domestication and more than 99.8% of the common shares and LTIP Units voted at the meeting, voting as a single class, voted in favor of the U.S. domestication.
“We are pleased that shareholders overwhelmingly approved our plan for U.S. domestication and we look forward to completing the process by the beginning of 2019,” said Maxar President and CEO Howard Lance. “U.S. domestication fulfills a commitment made as part of the acquisition of DigitalGlobe in October 2017 and marks a major milestone in our strategic objectives to gain a stronger presence in the U.S. space and defense markets and enhance our ability to support classified applications for U.S. Government agencies.”
Following the U.S. domestication effective date, Maxar will continue to list its shares on both the New York Stock Exchange (NYSE) and Toronto Stock Exchange (TSX). Maxar does not anticipate that the U.S. domestication will have any impact on its employees, customers, suppliers, or other key stakeholders. As previously announced, Maxar will transition to U.S. GAAP accounting standards and U.S. domestic securities filings effective with its U.S. domestication. The Company believes this transition will make its financial results more transparent to a wider audience of investors and provide increased comparability with U.S. aerospace and defense peer companies.
Subject to obtaining required court approvals, as well as the satisfaction of other conditions precedent, Maxar anticipates that the U.S. domestication will be completed on or about January 1, 2019.
About Maxar Technologies
As a global leader of advanced space technology solutions, Maxar Technologies (formerly MacDonald, Dettwiler and Associates) is at the nexus of the new space economy, developing and sustaining the infrastructure and delivering the information, services, systems that unlock the promise of space for commercial and government markets. As a trusted partner, Maxar Technologies provides vertically integrated capabilities and expertise including satellites, Earth imagery, robotics, geospatial data and analytics to help customers anticipate and address their most complex mission-critical challenges with confidence. With more than 6,500 employees in over 30 global locations, the Maxar Technologies portfolio of commercial space brands includes MDA, SSL, DigitalGlobe and Radiant Solutions. Every day, billions of people rely on Maxar to communicate, share information and data, and deliver insights that Build a Better World. Maxar trades on the Toronto Stock Exchange and New York Stock Exchange as MAXR. For more information, visit www.maxar.com.
