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Virgin Mobile USA to Acquire Helio for Approximately $39 Million in Equity.
- Article from:
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PR Newswire
- Article date:
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June 27, 2008
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Copyright informationCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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- Additional strategic investment totaling $50 million made by Virgin Group and SK Telecom at $8.50 per share
- Improved capital structure through increased liquidity and $50 million paydown of senior secured credit facility
- Incremental $60 million added to revolving credit facility - Maximum assumption of $10 million debt and $15 million net working capital liabilities - Net debt reduction of approximately $35 million upon closing
- Approximately 170,000 Helio customers with approximately $80 ARPU
- Entry into postpaid segment through acquisition of highly sophisticated customer platform supporting unique user applications
- Improved network rates and ...
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