[Satellite TODAY 10-01-09] Iridium Holdings and GHL Acquisition Corp. have closed their merger transaction, Iridium announced Sept. 30. 
As a result of the merge, GHL Acquisition’s new name will be Iridium Communications Inc. and will trade on the Nasdaq global select market. Iridium also closed its offering of 16 million new shares of common stock.
    “Today, with the close of this transaction, Iridium has a market cap of more than $785 million and a strong balance sheet with substantial cash. It marks the beginning of a very exciting time in the life of this very dynamic company,” Robert Niehaus, Iridium’s chairman, said in a statement.
    GHL’s intent to merge with Iridium was announced in September 2008. Under the terms of the agreement, 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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