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Article: WildBlue Reveals Terms, Purpose of $50 Million Financing.
- Article from:
- Satellite News
- Article date:
- September 10, 2008
CopyrightCOPYRIGHT 2008 Access Intelligence, 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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[Satellite News 09-08-08] WildBlue Communications Inc. will use $50 million it in equity financing secured Sept. 3 to boost customer services and not to pay debt.
WildBlue had to state its case for the $50 million to investors who also did their own financial analysis to determine if the satellite Internet provider was worth it, CFO Mark Adolph told Satellite News. "Our largest shareholders have been in this business for a long time and they realize that we are just hitting the knee of the curb in terms of growth," he said. "They are intimately involved with the company."
The terms of the financing, led by Liberty Media, Intelsat, the National ...