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DigitalGlobe Prices IPO Above Expected Range; Stock Surges

Authored by Mark Hefflinger on May 14, 2009 - 7:23am.
Arlington, Va. - Shares of DigitalGlobe surged nearly 20% by midday Thursday on their first day of trading, hours after the developer of high-resolution imagery products and services raised $279.3 million in its initial public offering (IPO).

The Colorado-based company, which has major operations in the DC area, priced 14.7 million shares at $19 each, higher than their expected range of $16-$18.

All but 1.4 million of the shares were sold by current stockholders in what was just the third IPO in the U.S. tech sector this year.

DigitalGlobe, which provides satellite images to clients such as Google (NASD: GOOG) Earth and intelligence agencies, recently opened a new facility in Arlington, Virginia to centralize its DC-area operations.

It has maintained offices in the area since 2003. The company's shares are trading on the New York Stock Exchange under the symbol "DGI."

 

Related Links:
http://www.businesswire.com/news/home/20090514005704/en

http://snipurl.com/i0tsr (SEC filing)

http://www.digitalglobe.com

tags: Deals | Google Earth | IPOs | DigitalGlobe |



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