Cerberus Completes GeoEye PIPE Deal

Cerberus Capital Management has invested $78 million in GeoEye (NASDAQ: GEOY), a provider of satellite and aerial-based geospatial information and services. The transaction included 80,000 shares of convertible preferred stock, and its net proceeds will be used to develop and launch the company's next-generation commercial Earth-imaging satellite. Completion of the PIPE deal was conditional upon a successful bid by the company for the National Geospatial-Intelligence Agency's EnhancedView contract, which GeoEye secured in early August.