GHL Acquisition Corp. Announces Pricing of Common Stock Offering
24 September 2009 - 9:07AM
PR Newswire (US)
NEW YORK, Sept. 23 /PRNewswire-FirstCall/ -- GHL Acquisition Corp.
("GHL Acquisition") (NYX: GHQ, GHQ.WS and GHQ.U) announced today
that its offering of 16,000,000 newly issued shares of its common
stock was priced at $10.00 per share. In addition, GHL Acquisition
has granted the underwriters a 40-day option to purchase up to an
additional 2,400,000 shares to cover over-allotments, if any. The
offering is expected to close on September 29, 2009, subject to the
satisfaction of customary closing conditions and the closing of the
acquisition by GHL Acquisition of Iridium Holdings LLC. Raymond
James and Associates, Inc. is acting as bookrunning manager, RBC
Capital Markets Corporation is acting as co-lead manager and
Stifel, Nicolaus & Company, Incorporated is acting as
co-manager for the offering. GHL Acquisition will use the net
proceeds from the offering to fund its previously announced
repurchases of shares of its common stock and exchanges of its
warrants, as well as for general corporate purposes. A final
prospectus supplement and accompanying prospectus related to the
offering have been filed with the Securities and Exchange
Commission and are available on the SEC's website
http://www.sec.gov/. Copies of the final prospectus supplement and
accompanying prospectus for this offering can be obtained without
charge by directing a request to Raymond James & Associates,
Inc. at 880 Carillon Parkway, St. Petersburg, FL 33716 or by
telephone at (727) 567-2400. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The offering of
these securities will be made only by means of the prospectus
supplement and accompanying prospectus. A registration statement
relating to the securities has been filed with and declared
effective by the SEC. About GHL Acquisition Corp. GHL Acquisition
is a special purpose acquisition company launched in February 2008
in an initial public offering raising $400 million of gross
proceeds. Founded by Greenhill & Co., GHL Acquisition was
formed for the purpose of acquiring, or acquiring control of,
through a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, one or
more businesses or assets. It currently has no operating
businesses. About Iridium Holdings LLC Iridium Holdings is the only
provider of mobile satellite communications services offering 100%
global coverage. Iridium Holdings' constellation operates in a
low-earth orbit and its satellite network provides communication
services to regions of the world where existing wireless or
wireline networks do not exist or are impaired, and regions where
the telecommunications infrastructure has been affected by
political conflicts or natural disasters. Iridium Holdings 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
Holdings' commercial end-user base includes the emergency services,
maritime, government, utilities, oil and gas, mining, leisure,
forestry, construction and transportation markets. Iridium
Holdings' products and related applications are installed in
unmanned aerial vehicles, helicopters, commercial aircrafts, marine
vessels, and ground vehicles. The company is headquartered in
Bethesda, MD, and is currently privately held. Forward-Looking
Statements and Other Disclosure This press release contains, and
GHL Acquisition's management may make, certain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. The words "anticipates," "may," "can,"
"believes," "expects," "projects," "intends," "likely," "will," "to
be" and other expressions that are predictions of or indicate
future events, trends or prospects identify forward-looking
statements. These forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of GHL Acquisition to
differ materially from any future results, performance or
achievements expressed or implied by such forward-looking
statements. These risks and uncertainties include, but are not
limited to, uncertainties regarding timing of the closing of the
transactions with Iridium referred to above, whether the closing
conditions will be satisfied, as well as industry, market and
economic conditions, and competitive, legal, governmental and
technological factors. There is no assurance that GHL Acquisition's
expectations will be realized. If one or more of these risks or
uncertainties materialize, or if GHL Acquisition's underlying
assumptions prove incorrect, actual results may vary materially
from those expected, estimated or projected. GHL Acquisition's
forward-looking statements speak only as of the date of this press
release or as of the date they are made, and, except as required by
law, GHL Acquisition undertakes no obligation to update
forward-looking statements. This press release is for informational
purposes only and does not constitute an offer of any securities
for sale. Contact: James Babski Liz DeCastro GHL Acquisition Corp.
Iridium +1-212-372-4180 +1-301-571-6257 DATASOURCE: GHL Acquisition
Corp. CONTACT: CONTACT: James Babski, GHL Acquisition Corp., ,
+1-212-372-4180, Liz DeCastro, Iridium, , +1-301-571-6257
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