Iridium Communications Inc. completed the acquisition of 80.5% stake in Satelles, Inc. for approximately $130 million.
Iridium Communications Inc. (NasdaqGS:IRDM) completed the acquisition of 80.5% stake in Satelles, Inc. for approximately $130 million on April 1, 2024. On March 25, 2024, the Company closed on an additional $125.0 million under its Term Loan. On April 1, 2024, the Company used these proceeds, together with cash on hand, to complete the acquisition of Satelles, Inc. Houlihan Lokey, Inc. acted as financial advisor to Satelles, Inc.