Shareholders at Maxar Technologies (NYSE: MAXR) cleared the company’s plan for U.S. domestication at a special meeting held Friday in Westminster, Colo.
The company said Friday holders of approximately 76 percent of outstanding and issued shares in Maxar voted in the meeting with 99.8 percent approving the firm’s U.S. incorporation.
“U.S. domestication fulfills a commitment made as part of the acquisition of DigitalGlobe in October 2017 and marks a major milestone in our strategic objectives to gain a stronger presence in the U.S. space and defense markets and enhance our ability to support classified applications for U.S. government agencies,” said Howard Lance, Maxar president and CEO.
Maxar expects to complete the process by Jan. 1, subject to court approvals and other customary closing conditions.
The company will continue to trade on the New York Stock Exchange and Toronto Stock Exchange as well as shift to U.S. securities filings and GAAP accounting standards once the domestication takes effect.