Maxar Technologies completes U.S. domestication
By Wings Staff
Maxar Technologies Inc., formerly MacDonald, Dettwiler and Associates, has completed its statutory plan of arrangement, pursuant to which the ultimate parent company of Maxar Technologies Ltd. (Maxar Canada) became an entity incorporated under the laws of the State of Delaware in the United States.
By Wings Staff
Maxar Technologies holds more than 6,500 employees in over 30 global locations, leveraging a portfolio of commercial space brands that includes MDA, SSL, DigitalGlobe and Radiant Solutions.
The U.S. domestication, according to the company, was overwhelmingly approved by Maxar Canada security holders at a special meeting held on November 16, 2018, and was subsequently approved by the Supreme Court of British Columbia.
The common shares of the new parent company will be listed on both the New York Stock Exchange (NYSE) and Toronto Stock Exchange (TSX). As a result of the U.S. domestication, each issued and outstanding common shares of Maxar Canada has been exchanged for one share of common stock of Maxar.
As previously announced, with the conclusion of the domestication process, Maxar has now completed its transition to U.S. GAAP accounting standards and U.S. domestic securities filings. The company states adopting U.S. GAAP accounting standards 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.