[Satellite TODAY 02-23-11] LightSquared closed its $586 million financing deal with UBS and JP Morgan to provide funds for general corporate purposes and support the construction of LightSquared’s 4G LTE-network, the operator announced Feb. 22.
Since August, LightSquared has raised more than $2 billion in private sector debt and equity. The recent loan increases the company’s current cash on hand to about $1 billion.
LightSquared is currently conducting LTE trials in Baltimore, Denver, Las Vegas and Phoenix, with commercial launches planned by the third quarter.
LightSquared Closes UBS, JP Morgan Financing Deal
By 
Jeffrey Hill
Jeffrey Hill
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