Latest news with #Inmarsat
Yahoo
4 days ago
- Business
- Yahoo
AST SpaceMobile (ASTS) Rallies 9.27% as $550-Million Deal With Ligado Network Gets Judge OK
AST SpaceMobile, Inc. (NASDAQ:ASTS) is one of the . AST SpaceMobile rallied for a third consecutive day on Monday, adding 9.27 percent to close at $50.20 apiece after securing the approval of a court judge for its $550 million spectrum-sharing agreement with Ligado Network. On Monday, Delaware Bankruptcy Judge Thomas Horan officially gave the green light for AST SpaceMobile, Inc. (NASDAQ:ASTS) and Ligado Network's multi-million dollar partnership, which would allow the former to use the latter's L-band spectrum in developing next-generation satellite internet infrastructure. In return, Ligado Network will receive 17.5 percent of future revenues generated from the spectrum-sharing agreement. 'The Inmarsat agreement is integral to the resolution of the issues with AST. I'm going to grant the motion today,' Judge Horan was quoted as saying. An aerial view of a communications satellite in orbit, beaming its signal down to Earth. The court ruling stemmed from the litigation case filed by Inmarsat Global Ltd., a subsidiary of Viasat Inc., which alleged that Ligado Network's partnership with AST SpaceMobile, Inc. (NASDAQ:ASTS) unlawfully assigned rights under their existing cooperation agreement. While we acknowledge the potential of ASTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
16-06-2025
- Business
- Yahoo
Viasat Announces Comprehensive Agreement with Ligado Networks
Viasat expects to receive $568 million from Ligado in fiscal year 2026 CARLSBAD, Calif., June 13, 2025 (GLOBE NEWSWIRE) -- Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, today announced that its subsidiary Inmarsat Global Ltd. ('Inmarsat') has agreed to a binding term sheet with Ligado Networks ('Ligado') and AST & Science, LLC ('AST') to settle Inmarsat's opposition to Ligado's planned restructuring. Under the conditions set forth in the term sheet, Viasat anticipates receiving $568 million from Ligado in fiscal year 2026, which will primarily be used to manage near term maturities and address its extended maturity profile. Under the conditions of the term sheet, and subject to Bankruptcy Court approval, Inmarsat, Ligado and AST agreed to the following: Starting on September 30, 2025, Ligado will resume making quarterly payments of ~$16 million per quarter to Inmarsat. The quarterly payment amount increases 3% per year for the life of the contract (through 2107). Ligado will make a $420 million lump sum payment to Inmarsat on October 31, 2025. Ligado will pay a lump sum payment of $100 million to Inmarsat on March 31, 2026. Including the December and March quarterly payments, Inmarsat expects to receive a total of $568 million by March 31, 2026. Ligado's lawsuit against Inmarsat is stayed effective immediately and will be dismissed under conditions set forth in the term sheet. Viasat's considerable ability to provide essential mobile satellite services (MSS) globally remains unaffected. The agreement reflects Viasat's continued commitment to facilitate innovation that enables new MSS services while ensuring the interference-free provision of existing services, including vital safety services. The agreement also demonstrates the ability to introduce new satellite configurations within existing spectrum sharing terms that have provided critical stability in the industry for decades. 'We are pleased that our patient and disciplined approach to Ligado's bankruptcy paid off, resulting in a positive outcome for Viasat and our employees, customers, and shareholders,' said Mark Dankberg, Chairman and CEO, Viasat. 'We saw the opportunity of a favorable outcome when completing the Inmarsat acquisition and not only anticipated the potential of utilizing the cash proceeds from such an agreement to repay debt, which will soon further strengthen our capital position, but to also advance our growth strategy. To that end, we look forward to continuing our activities with the MSSA to ensure an open architecture, standards based multi-orbit approach to MSS based on continued cooperation mechanisms among MSS operators.' About ViasatViasat is a global communications company that believes everyone and everything in the world can be connected. With offices in 24 countries around the world, our mission shapes how consumers, businesses, governments and militaries around the world communicate and connect. Viasat is developing the ultimate global communications network to power high-quality, reliable, secure, affordable, fast connections to positively impact people's lives anywhere they are - on the ground, in the air or at sea, while building a sustainable future in space. In May 2023, Viasat completed its acquisition of Inmarsat, combining the teams, technologies and resources of the two companies to create a new global communications partner. Learn more at the Viasat News Room or follow us on LinkedIn, X, Instagram, Facebook, Bluesky, Threads, and YouTube. Copyright © 2025 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat Signal are registered trademarks in the U.S. and in other countries of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners. Viasat, Inc. Contacts Dan Bleier, Public Relations, Viasat, PR@ Lisa Curran/Peter Lopez, Investor Relations, IR@ Forward-Looking StatementsThis press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Viasat uses words such as 'anticipate,' 'believe,' 'expect,' 'will,' 'would,' variations of such words and similar expressions to identify forward-looking statements. Forward-looking statements include, among others, statements that refer to the pending Ligado restructuring transaction, the terms and conditions of the term sheet, Viasat's receipt of expected payments under the term sheet, Viasat's plans for the use of such payments, and bankruptcy court approval of the term sheet. Readers are cautioned that these forward-looking statements are based on current expectations and are subject to risks and uncertainties that are difficult to predict. Actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: risks and uncertainties related to the restructuring transaction and the settlement contemplated by the term sheet, which are subject to specified conditions, including bankruptcy court approval, and may not be consummated on the terms described, or at all. In addition, please refer to the risk factors contained in Viasat's SEC filings available at including Viasat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
14-06-2025
- Business
- Time of India
AST SpaceMobile reaches deal to settle Ligado's Viasat dispute
NEW DELHI: AST SpaceMobile has reached a deal under which the bankrupt satellite operator Ligado Networks would pay more than $500 million it owes to Viasat , and in turn, will gain long-term access to the L-band spectrum to accelerate its planned direct-to-smartphone services in the US and Canada. As per a joint statement on Friday, AST SpaceMobile would provide about $550 million to Ligado, of which, $535 million would be paid to Viasat-owned Inmarsat , settling the mobile satellite services (MSS) operator's opposition to its bankruptcy restructuring plan. Ligado will make a $420 million lump sum payment to Inmarsat on October 31, 2025, and another $100 million on March 31, 2026, including the December and March quarterly payments. Inmarsat expects to receive a total of $568 million in FY26, which it will primarily utilise to manage near-term maturities and address its extended maturity profile. Starting on September 30, 2025, Ligado will resume making quarterly payments of nearly $16 million per quarter to Inmarsat. The quarterly payment amount will gradually increase by 3% per year through the contract, which will run until 2107. Texas-based AST SpaceMobile, which has secured commitments for a $550 million loan to support the deal, currently operates five commercial BlueBird satellites in low Earth orbit (LEO). To recall, shortly after filing for Chapter 11 bankruptcy protection, Ligado had sued Inmarsat on January 7 for allegedly breaching their 2007 L-band cooperation deal by not upgrading satellite terminals to avoid interference with the network. The lawsuit has now been stayed effective immediately, and will be dismissed under conditions outlined in the deal. 'We are pleased that our patient and disciplined approach to Ligado's bankruptcy paid off, resulting in a positive outcome for Viasat and our employees, customers, and shareholders,' said Mark Dankberg, chairman & CEO, Viasat. 'We saw the opportunity of a favorable outcome when completing the Inmarsat acquisition and not only anticipated the potential of utilising the cash proceeds from such an agreement to repay debt, which will soon further strengthen our capital position, but to also advance our growth strategy,' Dankberg added. As per the terms, as part of Ligado's ongoing restructuring, Inmarsat will support AST SpaceMobile receiving long-term spectrum usage rights for more than 80 years to up to 40 MHz of L-Band MSS spectrum in the United States and Canada held by Ligado, in addition to, access to an additional 5 MHz in the 1670-1675 MHz Band in the United States. Further, Inmarsat has agreed to provide its support of AST SpaceMobile's planned regulatory applications with the Federal Communications Commission (FCC) in the United States and ISED in Canada, seeking authority to operate an NGSO system within the L-Band mid-band spectrum in North America.
Bloomberg
13-06-2025
- Business
- Bloomberg
Ligado to Pay Inmarsat $568 Million to End Spat Over Radio Waves
Ligado Networks agreed to pay its business partner $568 million to resolve a contract dispute that had threatened the satellite operator's plan to cut debt and reorganize in bankruptcy court. The agreement with Inmarsat Global Limited clears one of the two main hurdles to Ligado's plan to restructure its $8.5 billion in debt. Inmarsat had claimed that its rights were being threatened by Ligado's proposed wireless spectrum deal with AST SpaceMobile Inc. The new deal that both companies have agreed to will now come before a bankruptcy judge in Wilmington, Delaware, for approval later this month, Ligado said in an emailed statement.
Business Wire
13-06-2025
- Business
- Business Wire
AST SpaceMobile Announces Settlement Term Sheet Facilitating Long-Term Access to up to 45 MHz of Premium Lower Mid-Band Spectrum in North America for Direct-to-Device Satellite Applications
MIDLAND, Texas--(BUSINESS WIRE)--AST SpaceMobile, Inc. ('AST SpaceMobile') (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced a Settlement Term Sheet among parties including AST SpaceMobile, Ligado Networks LLC ('Ligado'), Viasat, Inc. ('Viasat') and Inmarsat Global Limited ('Inmarsat') paving the way for approval of definitive documentation providing AST SpaceMobile long-term access to up to 45 MHz of premium lower mid-band spectrum in the United States and Canada for direct-to-device satellite applications. The Term Sheet, when approved, provides that as part of Ligado's ongoing restructuring, Inmarsat will support AST SpaceMobile receiving long-term spectrum usage rights for 80+ years to up to 40 MHz of L-Band MSS spectrum in the United States and Canada held by Ligado, plus access to an additional 5 MHz in the 1670-1675 MHz Band in the United States (the 'Transaction'). In addition, Inmarsat agrees to provide its affirmative support of AST SpaceMobile's planned regulatory applications with the Federal Communications Commission (FCC) in the United States and ISED in Canada seeking authority to operate a NGSO system within the L-Band mid-band spectrum in North America. The Term Sheet supplements the definitive documentation previously entered into between AST SpaceMobile and Ligado in March 2025 and remains subject to Court approval, expected before the end of June. When consummated, the Transaction will add additional capabilities to AST SpaceMobile's technology and space-based network, based on the largest-ever communications arrays deployed in low Earth orbit, pairing existing plans for the continental United States on low-band spectrum, which offers superior penetration and coverage characteristics, with access to up to 45 MHz of lower mid-band spectrum, the largest available block of high-quality nationwide spectrum in the United States. Upon approval of the Transaction, closing will be subject to receipt of satisfactory regulatory approvals required for the proposed use of the spectrum, and other closing conditions. At closing, Ligado will receive consideration of approximately $550 million, of which $535 million will be paid to Inmarsat. To support this consideration, AST SpaceMobile has received a $550 million institutional financing commitment, to finance a planned wholly owned special-purpose vehicle ('SPV') in the form of a non-recourse senior-secured delayed-draw term loan facility, subject to customary closing conditions. This non-recourse financing highlights the attractiveness and value of the spectrum beyond the significant synergistic benefits it provides AST SpaceMobile. Pursuant to the Term Sheet and in connection with Inmarsat's affirmative Transaction and regulatory support and the resolution of certain litigation matters between Ligado and Inmarsat, AST SpaceMobile agrees to certain payments ahead of closing, subject to certain conditions. So long the financial sponsors of Ligado provide an acceptable backstop commitment to AST SpaceMobile providing for a full refund of payments in the event regulatory approvals are not obtained and closing does not occur, AST SpaceMobile agrees to pay $420 million to Inmarsat on Ligado's behalf on October 31, 2025, $100 million to Inmarsat on Ligado's behalf on March 31, 2026 and $15 million to Inmarsat on Ligado's behalf upon receiving regulatory approval and closing of the Transaction. AST SpaceMobile plans to obtain institutional financing based on this backstop commitment to facilitate these obligations prior to the non-recourse senior-secured delayed-draw loan facility becoming effective upon regulatory approvals and closing. The term sheet for such backstop commitment has already been negotiated to AST SpaceMobile's satisfaction, providing committed financing from a highly credible group of lenders. AST SpaceMobile plans to supplement the existing financing commitment to cover the revised payment schedule. AST SpaceMobile's obligation to begin making spectrum access usage payments to Ligado will begin on September 30, 2025 per the Term Sheet. AST SpaceMobile currently operates its first five commercial BlueBird satellites into low Earth orbit, each the largest-ever commercial communications arrays deployed into low Earth orbit, reaching approximately 700 square feet in size. These initial satellites will offer non-continuous cellular broadband service across the United States and in select markets globally and will target approximately 100% nationwide coverage from space with over 5,600 coverage cells in the United States. The next-generation Block 2 BlueBirds featuring up to 2,400 square-foot communications arrays, are designed to deliver up to 10 times the bandwidth capacity of the BlueBird satellites in orbit, enabling peak data transmission speeds of up to 120 Mbps, supporting voice, full data, and video applications, and other native cellular capabilities. About AST SpaceMobile AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, and designed for both commercial and government applications. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission. Forward-Looking Statements This communication contains 'forward-looking statements' that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'may,' 'will,' 'would,' 'potential,' 'projects,' 'predicts,' 'continue,' or 'should,' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile's control and are difficult to predict. Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile's strategies and future financial performance, including AST's future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile's ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile's responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company's filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No assurance can be provided that the Transaction will be consummated or that the related financings will be disbursed. The Transaction and the disbursement of the related financings are subject to a number of conditions, including the entry into definitive documentation related to the financings and the satisfaction of the closing conditions to be specified in such definitive documentation. Even if the Transaction is consummated, the benefits of the Transaction will be subject to integration, technology and regulatory risks, as well as the risks to AST SpaceMobile referenced in the preceding paragraph. AST SpaceMobile intends to file publicly with the SEC, on Form 8-K within four business days following approval, a copy of the Settlement Term Sheet. The description of the Settlement Term Sheet contained in this press release is subject to the more complete description that will be available in such Form 8-K and the exhibit thereto. AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025, and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
