Based in Longmont, Colorado DigitalGlobe plans to sell 14.7 million shares at between $16 and $18 each, in a deal led by underwriters Morgan Stanley and JP Morgan, according to a regulatory filing.
DigitalGlobe's main clients include U.S. and foreign defense and intelligence agencies, and commercial customers, such as Internet portals, and oil and gas exploration companies, according to the filing. The company said its products are used in applications such as Google Maps and Microsoft's Virtual Earth.
DigitalGlobe gathers images daily through its two satellites and maintains them in its library. It plans to launch a third satellite in the autumn, which it expects to nearly double its image collection capabilities.
The company will receive a small portion of the IPO's proceeds, with about 90 percent of the shares in the offering being sold by existing shareholders. Morgan Stanley currently owns 36.7 percent of the company, a percentage that will drop to 32 percent if the IPO goes ahead.
DigitalGlobe sales rose 82 percent to $275.2 million in 2008, however net income fell by nearly half to $53.8 million because of a tax expense, according to the filing.