Maxar Technologies Inc (NYSE: MAXR) soared more than 100% Friday after Advent agreed to acquire all outstanding shares of Maxar common stock for $53 a share in cash. Thursday.
“Today’s announcement is an exceptional result for our shareholders and a testament to the hard work and dedication of our team, the value Maxar has created and the reputation we have built in the industry. Press release. “…as a private company, Maxar “We will build a strong foundation for our business and enhance our flexibility and additional resources to further expand our business and seize significant opportunities in a rapidly expanding market.”
This transaction is a significant valuation mark for space assets. This price gives Maxar an enterprise value of approximately 3.7 times its turnover. Earth-imaging companies Planet Labs (PL) and Black Sky Technology (BKSY) were initially up about 10% and 4%, respectively. Planet’s share price rose more than 9% in intraday trading, while Blackski’s share price fell about 1%.
Bloomberg reported that it will raise more capital at a valuation of $140 billion, up from its recent valuation of $125 billion. That’s why SpaceX is worth more than Lockheed Martin (LMT).