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Iridium Communications Inc.
IRDM ("Iridium") today announced that it has priced a private
offering of 1,000,000 shares of 7% Series A Cumulative Perpetual Convertible
Preferred Stock, with a liquidation preference of $100 per share (the
"Preferred Stock").
The Preferred Stock will be sold in a private offering to qualified
institutional buyers pursuant to Rule 144A under the Securities Act of 1933,
as amended (the "Securities Act"), and to other qualified investors in
reliance on Regulation S under the Securities Act. The sale of the Preferred
Stock is expected to close on October 3, 2012, subject to customary closing
conditions.
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