US Airways, America West to Sell Shares
US Airways creditors and America West shareholders will have a chance to invest in the airline that would be created by the carriers' merger, Arlington-based US Airways said in a proxy filing.
Up to 9.1 million shares will be offered at $16.50 per share.
The $16.50 price per share is based on the $150 million paid by the most recent investor in the merger, Boston-based Wellington Management, which received about a 15 percent stake in the company in return for its investment.
The merger, in which the US Airways name would be kept but headquarters would move to America West's home in Tempe, Ariz., still requires the approval of some federal regulators and the judge overseeing US Airways' Chapter 11 bankruptcy case.
NeuStar Rises $4 in NYSE Debut
Sterling-based NeuStar's stock price increased $4, to $26 per share, in its first day of trading on the New York Stock Exchange yesterday.
The company, which manages the registry of North American telephone numbers, initially offered 27.5 million shares at $22 each, raising $605 million.
The company's common stock trades under the symbol NSR.
Mergers & Acquisitions
D.C., Virginia Contractors to Join
CPI, a defense-oriented government contractor based in Fairfax County, has announced a merger with D.C.-based Columbia Research, which also does government contracting with defense-related agencies. The new company will be named the Columbia Group.
CPI President Martin Arase will head the new company. Columbia Research President Norman Witbeck will be an adviser to the company.
Orbimage to Feed MSN Virtual Earth
Dulles-based Orbimage signed a five-year agreement with Microsoft to supply high-resolution global satellite image data for MSN Virtual Earth, a new component of MSN Search.
Orbimage said its satellites are capable of measuring, mapping and monitoring objects smaller than automobiles. MSN Virtual Earth will allow users to search for specific locations, a Microsoft official said.
BAE Systems Gets NASA Contract
Rockville-based BAE Systems received a $12.5 million contract from NASA to find ways for semiconductor devices to operate in extremely cold conditions. The modifications made at BAE's facility in Manassas will allow the devices to operate at minus-230 degrees Celsius. The technology will be used for moon and Mars exploration.
"This research will enable NASA's continued exploration of the universe," said Ted Jamba, BAE Systems' program manager in Manassas.
Compiled from staff and news service reports