Item 8.01Other Events.
On January 27, 2021, Sirius XM Holdings Inc. ("Sirius XM") announced in its
public filings with the U.S. Securities and Exchange Commission that there is an
evaluation underway to determine the extent of damage to its SXM-7 satellite
caused by certain events. The SXM-7 satellite was constructed by Maxar Space LLC
(f/k/a Space Systems/Loral, LLC), a wholly-owned subsidiary of Maxar
Technologies Inc., and launched by Sirius XM on December 13, 2020.
We are currently assisting Sirius XM in troubleshooting and diagnosing the
situation to evaluate the extent of the damage to the SXM-7 satellite and to
focus on safely completing the commissioning of the satellite and optimizing its
performance. Our contractual arrangements with Sirius XM for the construction of
the SXM-7 satellite include industry-standard provisions regarding, among other
things, transfer of risk of loss upon launch.
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