- Current report filing (8-K)
10 August 2010 - 2:45AM
Edgar (US Regulatory)
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): August 9, 2010 (August 6, 2010)
DIGITALGLOBE, INC.
(Exact name of registrant as specified in its charter)
|
|
|
|
|
Delaware
|
|
001-34299
|
|
31-1420852
|
|
|
|
|
|
(State or other jurisdiction
of incorporation)
|
|
(Commission File Number)
|
|
(IRS Employer Identification No.)
|
|
|
|
1601 Dry Creek Drive, Suite 260
Longmont, Colorado
|
|
80503
|
|
|
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Registrants telephone number, including area code:
(303) 684-4000
Not Applicable
(Former name or former address, if changed since last report.)
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:
o
|
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
o
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
o
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
o
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item 1.01. Entry Into to a Material Definitive Agreement.
On
August 6, 2010, DigitalGlobe entered into a $3.55 billion
contract with National Geospatial-Intelligence Agency (NGA), under the EnhancedView procurement.
The contract provides for DigitalGlobe to supply satellite imagery deliveries from the
WorldView satellite constellation under a Service Level Agreement (EnhancedView SLA) in a total
amount of $2.8 billion. The contract also provides for up to $750 million for value added
products, infrastructure enhancements and other services and rights, including an option for NGA to
require DigitalGlobe to lower the altitude of WorldView-2 to an altitude of 496km, subject to
receipt of regulatory approvals, at any time after September 1, 2013. The contract has a ten year
term, inclusive of nine one-year options exercisable by NGA, and is subject to Congressional
appropriations and the right of NGA to terminate or suspend the contract at any time. The
EnhancedView SLA portion of the award is sized at $2.8 billion over the term of the contract; $250
million annually, or $20.8 million per month, for the first four contract years, commencing
September 1, 2010, with an increase to $300 million annually, or $25 million per month, for the
remaining six years of the contract term.
Under the EnhancedView SLA, DigitalGlobe is obligated to make a portion of the image tasking
capacity of the WorldView constellation available to NGA, including specified priority access
rights. On average, NGA will have access to approximately 50% of the WorldView constellation for
the first four years, stepping up to approximately 60% of the WorldView constellation, to include
WorldView-3, for years five through ten. In addition, DigitalGlobe is required to meet certain
service requirements related to the operational performance of the WorldView constellation related
ground systems. In the event that DigitalGlobe does not meet the service level requirements, NGA is
granted a holdback allowance of up to 10% of the monthly SLA fee, which NGA can use to extend the
EnhancedView SLA period or apply to any new agreement between the parties.
To support requirements under the contract, DigitalGlobe will immediately begin the
procurement and construction of its next satellite, WorldView-3, which the Company anticipates will
be ready for launch by the end of 2014. In addition, DigitalGlobe will lower the altitude of
WorldView-2 from its current altitude of 770km to an altitude of 680km in September 2011, subject
to receipt of all required regulatory approvals. DigitalGlobe also expects to expand its global
network of regional ground terminals. The lowering of the orbital altitude will result in a
decrease in the amount of square kilometers collected by the WorldView-2, but the Company believes
the decrease will be offset by improved data capture capabilities on the ground resulting from
planned expansion to the companys ground terminal network.
The EnhancedView SLA performance period commences on September 1, 2010 and replaces the
NextView SLA, which will expire by its terms on August 31, 2010. The performance period for
infrastructure enhancements commenced on date of award, August 6, 2010.
Item 7.01 Regulation FD Disclosure.
On August 9, 2010, DigitalGlobe, Inc. announced that it entered into a $3.55 billion contract
under the EnhancedView procurement. A copy of the press release is furnished as Exhibit 99.1 to this
report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
|
|
|
Exhibit Number
|
|
Description
|
|
|
|
Exhibit 99.1
|
|
DigitalGlobe, Inc.s press release, dated August 9, 2010, furnished herewith
|
SIGNATURES
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.
|
|
|
|
|
Date: August 9, 2010
|
DIGITALGLOBE, INC.
|
|
|
By:
|
/s/
Yancey L. Spruill
|
|
|
|
Name:
|
Yancey L. Spruill
|
|
|
|
Title:
|
Executive Vice President,
Chief Financial Officer
and Treasurer
|
|
Exhibit Index
|
|
|
Exhibit Number
|
|
Description
|
|
|
|
Exhibit 99.1
|
|
DigitalGlobe, Inc.s press release, dated August 9, 2010, furnished herewith
|
Digitalglobe, (delisted) (NYSE:DGI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Digitalglobe, (delisted) (NYSE:DGI)
Historical Stock Chart
From Jul 2023 to Jul 2024