CARLSBAD, Calif., March 22 /PRNewswire-FirstCall/ -- ViaSat Inc. (Nasdaq: VSAT) has commenced an underwritten public offering of 5,500,000 shares of its common stock, consisting of 2,500,000 shares offered by ViaSat and 3,000,000 shares offered by certain selling stockholders. ViaSat and the selling stockholders have granted to the underwriters an option to purchase up to an additional 375,000 and 450,000 shares, respectively, within 30 days after the offering to cover over-allotments, if any.
(Logo: http://www.newscom.com/cgi-bin/prnh/20091216/VIASATLOGO)
ViaSat expects to use the net proceeds from the offering for general corporate purposes, which may include working capital, capital expenditures, financing costs related to the purchase, launch and operation of its ViaSat-1 satellite or any future satellite, or other potential acquisitions. Pending application of the net proceeds, we may use all or a portion of the net proceeds to repay outstanding borrowings under its revolving credit facility. ViaSat will not receive any proceeds from the sale of shares by the selling stockholders.
Morgan Stanley, BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are joint book-running managers for the offering. The co-managers of the offering are Barclays Capital and Needham & Company, LLC. 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: Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or email [email protected] or call (866) 718-1649; BofA Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attn: Preliminary Prospectus Department or email [email protected]; and Credit Suisse Securities (USA) LLC at Prospectus Department, One Madison Avenue, New York, New York 10010 or call (800) 221-1037.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the offered shares, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.
This 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. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. In addition, please refer to the risk factors contained in ViaSat's SEC filings available at www.sec.gov, 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 reason.
SOURCE ViaSat Inc.
Share this article