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[Satellite Today 05-15-09] DigitalGlobe priced its initial public offering at $19 per share, above analyst’s estimated range of $16 to $18, according to a U.S. Security Exchage Commission filing made public May 13.
About 90 percent of the IPO’s proceeds will go to existing shareholders. Morgan Stanley’s ownership of the company will drop to 32 percent after the IPO, according to the filing.
DigitalGlobe acquired nearly 75 percent of its revenue from U.S. government contracts last year and is set to have a third satellite launched by Boeing in the fall to replace one of two satellites that is expected to reach the end of its operational life next year.
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