Satellite Co.'s $472M IPO Falls Short Of Initial $1.75B Goal

Law360, New York (April 18, 2013, 5:27 PM EDT) -- Private equity-backed satellite company Intelsat SA announced Thursday that it has raised roughly $472 million in its initial public offering, falling well short of its initial plan to raise more than $1.75 billion from the IPO.

Luxembourg-based Intelsat's backers, Silver Lake Partners and BC Partners, sold stock equivalent to about a 25 percent stake in the satellite company. Intelsat sold roughly 19.3 million shares of common stock at $18 per share and three million convertible, nonvoting preferred shares for $50 each.

Total net proceeds from the...
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