UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 24, 2021
MAXAR TECHNOLOGIES INC.
(Exact name of Registrant as specified in its charter)
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Delaware |
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001-38228 |
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83-2809420 |
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(State of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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1300 W. 120th Avenue, Westminster, Colorado |
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80234 |
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(Address of principal executive offices) |
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(Zip Code) |
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303-684-7660 |
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(Registrant’s telephone number, including area code) |
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N/A
(Former name or address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading Symbol(s) |
Name of exchange on which registered |
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Common stock, at $0.0001 par value |
MAXR |
New York Stock Exchange, Toronto Stock Exchange |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On February 24, 2021, the Company issued a press release announcing that its wholly owned subsidiary, Vricon, Inc., was awarded Phase 2 of the U.S Army’s One World Terrain (OWT) prototype Other Transaction Agreement (OTA) contract worth $39.3 million.
A copy of the Company’s press release regarding the foregoing is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits:
The following exhibits are furnished with this report:
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99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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Date: February 24, 2021 |
Maxar Technologies Inc. |
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By: |
/s/ James C. Lee |
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Name: James C. Lee |
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Title: Senior Vice President, General Counsel and Corporate Secretary |
Exhibit 99.1
Maxar’s Vricon Awarded Phase 2 of U.S. Army’s One World Terrain Contract
Program’s second phase to provide highly accurate 3D data and technology for expanding operational missions across Army network
Westminster, Colo. – 02/24/2021 – Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a trusted partner and innovator in Earth Intelligence and Space Infrastructure, today announced that Vricon, Inc., a wholly owned subsidiary of Maxar Technologies, Inc., was awarded Phase 2 of the U.S Army’s One World Terrain (OWT) prototype Other Transaction Agreement (OTA) contract worth $39.3 million.
The OWT program delivers 3D global terrain capability and associated information services that support a fully accessible virtual representation of the physical Earth through the Army network. The original $35.8 million Phase 1 OWT contract was awarded in June 2019 to Vricon, which was acquired by Maxar in July 2020. If all three phases and options are exercised, the total value of the OWT prototype project is $94.7 million.
OWT is a foundational element of the Synthetic Training Environment-Information System (STE-IS), a modernization initiative led by the STE Cross Functional Team at Army Futures Command (AFC), managed by the Program Executive Office Simulation, Training and Instrumentation (PEO STRI) and contracted through Army Contracting Command-Orlando (ACC-O).
The OWT solution starts with the 3D commercial foundation data layer to create a geo-specific, high-resolution representation that accurately reflects the complexities of operational environments.
Maxar’s Vricon completed OWT Phase 1, which focused on Army training and simulation, in late 2020. Throughout 2021, OWT Phase 2 will shift to a focus on 3D geospatial components across the entire Army, including support of multi-domain operations, mission command systems and other non-training functions.
“Maxar is proud to continue its work with One World Terrain and to provide 3D data and technology in support of Army mission objectives for other very tactical use cases,” said Dan Jablonsky, Maxar CEO. “Beyond essential simulation-ready training data, potential applications for OWT include situational awareness, mission planning, navigation, and targeting. Maxar is committed to offering our 3D terrain capabilities globally across industries as demand increases for a multidimensional, highly accurate digital model of the surface of the Earth.”
About Maxar
Maxar is a trusted partner and innovator in Earth Intelligence and Space Infrastructure. We deliver disruptive value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. Our unique approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions
and deliver insights with unrivaled speed, scale and cost effectiveness. Maxar’s 4,300 team members in over 20 global locations are inspired to harness the potential of space to help our customers create a better world. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.
Forward-Looking Statements
Certain statements and other information included in this release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws. Statements including words such as "may", "will", "could", "should", "would", "plan", "potential", "intend", "anticipate", "believe", "estimate" or "expect" and other words, terms and phrases of similar meaning are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties, as well as other statements referring to or including forward-looking information included in this presentation.
Forward-looking statements are subject to various risks and uncertainties which could cause actual results to differ materially from the anticipated results or expectations expressed in this presentation. As a result, although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The risks that could cause actual results to differ materially from current expectations include, but are not limited to, the risk factors and other disclosures about the Company and its business included in the Company's continuous disclosure materials filed from time to time with U.S. securities and Canadian regulatory authorities, which are available online under the Company's EDGAR profile at www.sec.gov, under the Company's SEDAR profile at www.sedar.com or on the Company's website at www.maxar.com.
The forward-looking statements contained in this release are expressly qualified in their entirety by the foregoing cautionary statements. All such forward-looking statements are based upon data available as of the date of this presentation or other specified date and speak only as of such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this presentation as a result of new information or future events, except as may be required under applicable securities legislation.
Investor Relations Contact:
Jason Gursky
Maxar VP, Investor Relations and Corporate Treasurer
1-303-684-2207
jason.gursky@maxar.com
Media Contact:
Kristin Cody
Maxar Media Relations
1-703-350-6753
kristin.cody@maxar.com