ViaSat (VSAT) to Offer 6.5M Common Shares
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ViaSat Inc. (Nasdaq: VSAT) today announced that it has commenced an underwritten public offering of 6,500,000 shares of its common stock. ViaSat intends to grant 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 from the offering 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. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
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.
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Create E-mail Alert Related CategoriesEquity Offerings
Related EntitiesCredit Suisse, JPMorgan, Morgan Stanley, Merrill Lynch, Bank of America, B. Riley, SunTrust Robinson Humphrey
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