Satellite Technology News

powered by google

Satellite Spotlight:  

Satellite Technology RSS Feed
Share

TMCNet:  Iridium Completes Exchange Offer for $7.00 Warrants

[December 03, 2012]

Iridium Completes Exchange Offer for $7.00 Warrants

MCLEAN, Va., Dec 3, 2012 (GlobeNewswire via COMTEX) -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today announced that it has completed its offer to exchange its remaining outstanding $7.00 warrants for Iridium common stock.

As previously announced, Iridium offered holders of its warrants one share of common stock for every six warrants tendered (equivalent to approximately 0.1667 shares for every warrant tendered). When the offer expired on Friday, November 30, 2012, holders of approximately 8.36 million $7.00 warrants, or approximately 93.1% of the outstanding $7.00 warrants, had tendered their $7.00 warrants pursuant to the tender offer.

About Iridium Communications Inc.

Iridium is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ever-expanding ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. The company has a major development program underway for its next-generation network -- Iridium NEXT. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the NASDAQ Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.

The Iridium Communications Inc. logo is available at http://www.globenewswire.com/newsroom/prs/ pkgid=10426 This news release was distributed by GlobeNewswire, www.globenewswire.com SOURCE: Iridium Communications Inc.

(Logo: http://media.primezone.com/cache/15411/int/11276.jpg) CONTACT: Investor Contact: Steve Kunszabo Iridium Communications Inc.

+1 (703) 287-7570 steve.kunszabo@iridium.com Press Contact: Ashley Eames Iridium Communications Inc.

+1 (703) 287-7476 ashley.eames@iridium.com

[ Satellite Spotlight's Homepage ]


blog comments powered by Disqus

FREE Satellite eNewsletter

Subscribe to our free weekly Satellite Spotlight eNewsletter!

Get the latest expert news, reviews & resources. Tailored specifically for Satellite Technology and Communications.

Satellite Technology White Papers

Innovative Features Mean Major Savings for Cellular Operators Using Satellite Backhaul
With the rising cost of satellite bandwidth and the need for more of it to support an ever increasing number of voice, data and now video services, operators must seek ways to reduce both their hardware investment costs and operating expenses, especially when fierce competition forces them to provide these new services without raising their rates.

Satellite Technology Features