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Viasat Inc. completed its acquisition of Inmarsat on 2023-05-30.
Rajeev Suri has been nominated by the shareholder consortium that acquired Inmarsat in 2019 to serve as a Board Director of Viasat upon completion of the sale.
At the closing of the acquisition, Inmarsat’s shareholders received approximately 46.36 million shares of Viasat common stock.
The shareholder consortium that acquired Inmarsat in 2019 has the right to designate two nominees to the Viasat Board of Directors at closing of the transaction.
Viasat’s financing drawdown included a $617,000,000 secured term loan facility and a $733,000,000 unsecured bridge loan.
Viasat’s financing drawdown included a $617,000,000 secured term loan facility and a $733,000,000 unsecured bridge loan.
Viasat completed its acquisition of Inmarsat with the transaction closing on 2023-05-30.
Inmarsat’s shareholders received approximately 46.36 million shares of Viasat common stock at the closing of the acquisition.
Viasat and Inmarsat collectively have 19 in‑orbit satellites operating across Ka‑, L‑, and S‑band spectrum to provide connectivity and safety services across maritime, aviation, government, and consumer markets.
Inmarsat shareholders received approximately 46.36 million shares of Viasat common stock at the closing of the transaction.
Viasat drew down about $1,350,000,000 of its committed financing package to support the Inmarsat deal, and the transaction includes the assumption of debt.
Inmarsat’s shareholders are receiving $551,000,000 in cash from the Viasat acquisition plus shares representing 37.6% of Viasat’s common stock.
On 2023-05-30, Viasat drew down approximately $1,350,000,000 of its committed financing package to fund the acquisition, including a $617,000,000 secured term loan facility and a $733,000,000 unsecured bridge loan.
Viasat Inc. completed its acquisition of Inmarsat on 2023-05-31.
The shares issued to Inmarsat shareholders at closing represent approximately 37.6% of Viasat common stock on a fully diluted basis, with no Inmarsat shareholder receiving 10% or more.
Viasat is expanding into Africa as part of its broader effort to deliver connectivity services to Europe, the Middle East, and Africa using its next-generation ViaSat-3 satellite constellation.
Viasat and Liquid Intelligent Technologies have agreements with the Microsoft Airband Initiative to deliver internet access to millions of underserved people in Africa by the end of 2025.
The transaction was valued at $7,300,000,000 in a mix of cash, debt, and Viasat shares when it was announced in November 2021.
Viasat secured all regulatory clearances needed to buy British satellite operator Inmarsat after receiving unconditional approval from the European Commission on 2023-05-25.
Viasat expects to complete the transaction to acquire Inmarsat by the 2023-05-31.