BETHESDA, Md., Oct. 15, 2009 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq:IRDM)(Nasdaq:IRDMW) (Nasdaq:IRDMU)(the "Company") announced today that the U.S. Securities and Exchange Commission (the "SEC") has declared effective the Company's registration statement on Form S-3 filed on September 29, 2009. The registration statement registers the following Company securities:
* 13,526,667 shares of common stock underlying warrants (the "$7.00 Warrants") that were issued in the Company's initial public offering; * 14,368,525 shares of common stock underlying warrants (the "$11.50 Warrants") that were issued in connection with privately negotiated agreements (the "Exchanges") the Company entered into with certain of its warrant holders to repurchase and/or restructure certain of its warrants; * 14,368,525 $11.50 Warrants for resale; and * 1,244,923 shares of common stock issued in the Exchanges for resale.
The $11.50 Warrants will be listed on the NASDAQ Global Market and are expected to begin trading under the ticker symbol "IRDMZ" on October 16, 2009.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Company's securities in any state in which such offer, solicitation or sale would be unlawful. The registration statement and all other SEC filings by the Company are available for review at http://www.sec.gov/. Copies of the final prospectus included in the registration statement may be obtained from Investor Relations, Iridium Communications Inc. 6707 Democracy Boulevard, Suite 300, Bethesda, Maryland 20817. About Iridium Communications Inc.
Iridium is the only provider of mobile satellite communications services offering 100% global coverage. Iridium's constellation operates in a low-earth orbit and its satellite network provides communication services to regions of the world not served by wireless or wireline networks. Iridium offers voice and data communications services to the U.S. and foreign governments, businesses, non-governmental organizations and consumers via its constellation of 66 in-orbit satellites, seven in-orbit spares and related ground infrastructure. Iridium's commercial end-user base includes the emergency services, maritime, government, utilities, oil and gas, mining, leisure, forestry, construction and transportation markets. Iridium's products and related applications are installed in unmanned aerial vehicles, helicopters, commercial aircrafts, marine vessels, and ground vehicles. Iridium has launched a major development program for its next generation constellation, Iridium NEXT, which will support new and existing Iridium product and service offerings. Iridium is headquartered in Bethesda, MD.
CONTACT: Iridium Satellite LLC Press Contact: Liz DeCastro + 1 (301) 571-6257 firstname.lastname@example.org
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