Citi no longer DigitalGlobe underwriter

By Alicia Wallace (Contact)

Friday, June 6, 2008

Longmont-based DigitalGlobe Inc. today filed an amendment to its paperwork for a future initial public offering. The high-resolution satellite imagery provider has yet to set an offer date or price for its offering.

One of the more noticeable changes made in the filing is that one less underwriter is participating in the offering, according to the filing made with the Securities and Exchange Commission. Citi no longer joins the list of Morgan Stanley, Lehman Brothers, UBS Investment Bank, JPMorgan and Jefferies & Company.

The loss of an underwriter could be the result of a conflict of interest or some other decision and not necessarily a reflection of the offering itself, said IPO Desktop’s Francis Gaskins as he briefly perused the filing this afternoon.

In its initial filing, DigitalGlobe said the offering could raise as much as $250 million, and plans to use the net proceeds to finish construction on its WorldView-2 satellite, to be put toward other capital expenditures and general corporate purposes, and to repay a $40 million principal on outstanding senior notes due April 2012.

The company intends to have its stock listed on the New York Stock Exchange under the symbol DGI.