[Satellite Today – 7-02-08] WorldSpace Satellite Radio reached an agreement with four of its creditors to defer debt payments for the second time in less than a month, WorldSpace announced July 1.
Under the latest agreement, WorldSpace delayed payment of $19.9 million in principal until June 9. On June 4, the satellite radio operator reached an agreement with the creditors to delay a $17.7 million payment until June 30.
In connection with the latest deferral, each of the note holders will receive a portion of 1.5 million new WorldSpace warrants that can be converted into common stock.
WorldSpace Again Defers Debt Payment
Space42 and Skylo Test D2D Test on Thuraya-4
Space42 and Skylo conducted direct-to-device (D2D) testing on the Thuraya-4 satellite, successfully demonstrating both SMS and SOS messaging. The partners said in a July 9 announcement they expect to roll […]
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