M&A
confidence high
sentiment neutral
materiality 0.90
Gogo completes acquisition of Satcom Direct for $375M cash + 5M shares + up to $225M earnout
Gogo Inc.
- Acquired all equity of Satcom Direct entities for ~$375M cash, 5M restricted shares (~$40.5M), and up to $225M earnout over 4 years.
- Entered $250M term loan facility from HPS Investment Partners, maturing April 2028, with interest at SOFR+6.00% (floor 1%).
- Amended existing Morgan Stanley revolver to $122M and extended maturity to Dec 2029.
- 5M shares issued as Closing Date Stock Consideration were unregistered, exempt under Section 4(a)(2).
- Financial statements of acquired business and pro forma info to be filed within 71 days.