[Satellite TODAY 04-18-13] Intelsat has taken the next step on what it hopes will be a successful IPO process, a process in which it hopes to derive over $470 million in new revenue. The company announced, April 18, the pricing of shares of one of the most eagerly awaited IPOs in the satellite sector.

    The IPO of 19,323,672 common shares will be priced at $18.00 per share and concurrent public offering of 3,000,000 Series A mandatory convertible junior non-voting preferred shares (the Series A preferred shares) at a price of $50.00 per share. The company has granted the underwriters in the initial public offering of common shares a 30-day option to purchase up to an additional 2,898,550 common shares.

    Intelsat forecasts that net proceeds from the offerings, after deducting the underwriting discounts and commissions and estimated offering expenses, is expected to be approximately $471.7 million.