Viasat Raises $175M from Intercorp, Baupost
Viasat has raised $175 million from affiliates of Intercorp, and affiliates of The Baupost Group, L.L.C., Viasat’s largest shareholder, the company announced Thursday. Under the terms of the investment, the investors purchased an aggregate of 4,474,559 shares of common stock at a price of $39.11 per share.
The company said the proceeds will be used for general corporate purposes, which may include financing costs related to the purchase, launch and operation of satellites, potential acquisitions, joint ventures and strategic alliances, working capital, or capital expenditures.
“Intercorp’s investment advances our strategic partnership throughout Central and South America, and the investment by Baupost expands our relationship with our largest shareholder,” CEO Mark Dankberg commented.
Separately this week, Viasat also announced that its high-speed Viasat Ka-band In-Flight Connectivity (IFC) business aviation service will be available aboard new and in-service Bombardier Challenger 350 aircraft, and on in-service Challenger 300 aircraft. Viasat also announced that it has added data storage and increased the processing power of its Link 16 expeditionary tactical gateway products.