[Satellite TODAY 09-25-09] GHL Acquisition stockholders voted to approve its acquisition of Iridium following the approval of the U.S. Federal Communications Commission granted in August, GHL announced Sept 24.
    The acquisition is expected to close Sept. 29, subject to the satisfaction of customary closing conditions. As a result of the acquisition, Iridium will become a publicly traded company.
    “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.
    GHL’s intent to acquire Iridium was announced in September 2008. 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.

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