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Biz Briefs – Maxar Goes Private, Seraphim Selects Next Accelerator Group
Biz Briefs – Maxar Goes Private, Seraphim Selects Next Accelerator Group

Welcome to Biz Briefs. In this edition, Maxar is going private, a consortium of aerospace heavyweights will bid for Europe’s Starlink rival, Seraphim Space selects nine companies for its next business accelerator, ESA funds a study for a reusable heavy-lift launcher, Lockheed and Raytheon teams win defense contracts, AeroVironment receives a Mars helicopter contract, CesiumAstro to provide Raytheon with antennas, NASA awarded contracts for a weather satellite, and Thales Alenia Space conducted a cybersecurity demonstration with an active satellite.

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  • May 4, 2023
NASA Announces Launch Delay for Psyche Asteroid Mission
This illustration depicts NASA’s Psyche spacecraft (Credits: NASA/JPL-Caltech/ASU)

WASHINGTON (NASA PR) — NASA announced Friday the Psyche asteroid mission, the agency’s first mission designed to study a metal-rich asteroid, will not make its planned 2022 launch attempt.

Due to the late delivery of the spacecraft’s flight software and testing equipment, NASA does not have sufficient time to complete the testing needed ahead of its remaining launch period this year, which ends on Oct. 11. The mission team needs more time to ensure that the software will function properly in flight.

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  • June 24, 2022
Intuitive Machines-led Team Awarded $5 Million for Fission Surface Power Solution
A Fission Surface Power (FSP) reactor landed on the Moon by an Intuitive Machines Nova-M spacecraft. (Credit: Intuitive Machines)

HOUSTON (Intuitive Machines PR) – The Department of Energy and NASA awarded IX, a joint venture between Intuitive Machines and X-energy, a contract to conduct a one-year study to mature the design of a Fission Surface Power (FSP) solution that will deliver at least 40 kWe power flight system to the Moon by 2028.

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  • June 22, 2022
Maxar Technologies Announces Pricing of $500 Million Senior Secured Notes Offering; Expects to Complete Amendment and Extension of its Credit Facilities

WESTMINSTER, Colo. (Maxar Technologies PR) — Maxar Technologies (NYSE:MAXR) (TSX:MAXR) (“Maxar” or the “Company”), a provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced the pricing of the previously announced offering of its $500 million in aggregate principal amount of 7.75% senior secured notes due 2027 (the “notes”). The notes were offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The notes will have an interest rate of 7.75% per annum and will be issued at a price equal to 100% of their face value.

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  • June 10, 2022
Maxar Technologies Announces Launch of $500 Million Senior Secured Notes Offering

WESTMINSTER, Colo. (Maxar Technologies PR) –Maxar Technologies (NYSE:MAXR) (TSX:MAXR) (“Maxar” or the “Company”), a provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced the commencement of a private offering of $500 million aggregate principal amount of its senior secured notes due 2027 (the “notes”). The notes will be senior, first-priority secured obligations of the Company initially guaranteed on a senior, first-priority secured basis by the Company’s subsidiaries that are guarantors under its existing syndicated credit facility. In connection with the issuance of the notes, the Company intends to amend and restate that certain credit agreement under its existing syndicated credit facility, among the Company, Royal Bank of Canada and the lenders from time to time party thereto (the “Amendment and Restatement”). The proposed offering is subject to market and other conditions.

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  • June 1, 2022
Maxar Reports $7 Million Net First Quarter Loss

WESTMINSTER, Colo. (Maxar Technologies PR) — Maxar Technologies (NYSE:MAXR) (TSX:MAXR) (“Maxar” or the “Company”), a provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced financial results for the quarter ended March 31, 2022. All dollar amounts in this press release are expressed in U.S. dollars, unless otherwise noted.

Key points from the quarter include:

  • Consolidated revenues of $405 million
  • Net loss of $7 million
  • Diluted net loss per share of $0.10
  • Adjusted EBITDAof $84 million
  • Operating cash flows of $48 million
  1. This is a non-GAAP financial measure. Refer to section “Non-GAAP Financial Measures” in this earnings release.
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  • June 1, 2022