ViaSat (VSAT) Prices 6.5M Share Common Stock Offering for Proceeds of ~$453.3M

November 18, 2016 5:42 AM EST

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ViaSat Inc. (Nasdaq: VSAT) announced the pricing of its underwritten public offering of 6,500,000 shares of its common stock at a public offering price of $69.74 per share, before underwriting discounts. The closing of the sale of the common stock is expected to occur on November 23, 2016, subject to the satisfaction of customary closing conditions. ViaSat has granted to the underwriters an option to purchase up to an additional 975,000 shares within 30 days after the offering.

ViaSat expects to use the net proceeds it will receive from the offering (which are estimated to be approximately $436.9 million after deducting underwriting discounts and estimated offering expenses, prior to any exercise of the underwriters' option to purchase additional shares of common stock) for general corporate purposes, which may include financing costs related to the purchase, launch and operation of satellites, potential acquisitions, joint ventures and strategic alliances, working capital or capital expenditures. Pending application of the net proceeds as described above, ViaSat may use a portion of the net proceeds to repay all or a portion of its outstanding borrowings under its revolving credit facility.

BofA Merrill Lynch, J.P. Morgan, Credit Suisse and Morgan Stanley are joint book-running managers for the offering. The co-managers of the offering are B. Riley & Co., Citizens Capital Markets, Inc., PJT Partners LP and SunTrust Robinson Humphrey. The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The offering of these shares may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which, when available, may be obtained by contacting: BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, email: dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204; Credit Suisse Securities (USA) LLC at Prospectus Department, One Madison Avenue, New York, New York 10010, email: newyork.prospectus@credit-suisse.com, telephone: (800) 221-1037; and Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.



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