SpaceDev to be Acquired by SNC
[Satellite Today 10-21-08] SpaceDev Inc. signed an agreement to be acquired by the privately held Sierra Nevada Corp., SpaceDev announced Oct. 20.
Under the agreement, SNC would acquire the outstanding equity of SpaceDev for the gross purchase price of $38 million in cash, which is expected to result in a net price to holders of SpaceDev common stock between $0.68 and $0.72 per share. The transaction has been approved by SpaceDev’s board and will be presented to SpaceDev’s stockholders for a vote in December.
Sierra Nevada expects to form an integrated space technologies unit with SpaceDev, MicroSat Systems and other space operations serving defense, civil government and corporate customers.