[Satellite TODAY 08-18-09] The U.S. Federal Communications Commission (FCC) has granted Iridium Satellite approval to combine with GHL Acquisition, Iridium announced Aug. 17.
    “This is good news for us, our partners and our customers and helps advance our plans to build our next-generation satellite constellation, Iridium Next,” Iridium CEO Matt Desch said in a statement.
    The combination, announced in September 2008, will result in Iridium becoming a publicly traded company. Under the terms of the agreement to combine, about 26.8 million warrants issued by GHL Acquisition will be repurchased or restructured upon closing of its Iridium acquisition —reducing the number of fully diluted GHL Acquisition shares that will be outstanding following completion of the Iridium acquisition.
    GHL Acquisition will meet with its stockholders Sept. 23 to approve the transaction.

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