{"schema_version":"secwatch.filing_event.v1","accession":"0001418819-24-000013","form_type":"8-K","ticker":"IRDM","cik":"0001418819","company_name":"Iridium Communications Inc.","filed_at":"2024-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.129522+00:00","generated_at":"2026-06-04T07:04:43.641968+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Iridium borrows additional $125M term loan to fund Satelles acquisition","bullets":["Added $125M term loan to existing $1.5B facility; same terms: SOFR+2.5% with 0.75% floor, maturing 2030.","Term loan issued at 0.125% discount to face value, compared to 0.25% discount on original tranche.","Proceeds used to fund acquisition of Satelles, Inc. (merger agreement dated March 2, 2024) and related expenses."],"urls":{"canonical":"https://secwatch.observer/filing/0001418819-24-000013","json":"https://secwatch.observer/filing/0001418819-24-000013.json","markdown":"https://secwatch.observer/filing/0001418819-24-000013.md","text":"https://secwatch.observer/filing/0001418819-24-000013.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1418819/000141881924000013/0001418819-24-000013-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1418819/000141881924000013/irdm-20240325.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T07:04:43.641968+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"dab98f489fd23803833f3ffe9e8bd90ab9601bcd","claim":"Iridium Communications Inc. incurred term loan of $125 million with Deutsche Bank AG New York Branch at SOFR plus an interest rate margin of 2.5%, with a 0.75% SOFR floor maturing September 20, 2030.","evidence_excerpt":"On March 25, 2024, Iridium Satellite LLC (“Satellite”), the Registrant’s principal operating subsidiary, as the borrower, entered into Amendment No. 1 (the “Amendment”) to its existing Amended and Restated Credit Agreement, dated as of September 20, 2023, with Iridium Holdings LLC (“Holdings”), as guarantor; solely with respect to Section 10.12 thereof, the Registrant; various lenders; and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; with Deutsche Bank Securities Inc., Barclays Bank PLC, and Wells Fargo Securities, LLC , as Joint Lead Arrangers and Bookrunners (the “Credit Agreement”) . Pursuant to the Amendment, Satellite borrowed an additional $125 million of term loans on the same terms as the existing term loans of $1.5 billion, bearing interest at a per annum rate of SOFR plus an interest rate margin of 2.5%, with a 0.75% SOFR floor and maturing on September 20, 2030.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1418819/000141881924000013/0001418819-24-000013-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$125 million"},{"label":"Counterparty","value":"Deutsche Bank AG New York Branch"},{"label":"Rate","value":"SOFR plus an interest rate margin of 2.5%, with a 0.75% SOFR floor"},{"label":"Maturity","value":"September 20, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"1066e9488af1e8f2f22ee8b0233c763bb6fc95f4","claim":"Iridium Communications Inc. amended Amendment No. 1 (the \"Amendment\") to the Amended and Restated Credit Agreement with various lenders and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; Deutsche Bank Securities Inc., Barclays Bank PLC, and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Bookrunners valued at $125 million (effective 2024-03-25).","evidence_excerpt":"On March 25, 2024, Iridium Satellite LLC (“Satellite”), the Registrant’s principal operating subsidiary, as the borrower, entered into Amendment No. 1 (the “Amendment”) to its existing Amended and Restated Credit Agreement, dated as of September 20, 2023, with Iridium Holdings LLC (“Holdings”), as guarantor; solely with respect to Section 10.12 thereof, the Registrant; various lenders; and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; with Deutsche Bank Securities Inc., Barclays Bank PLC, and Wells Fargo Securities, LLC , as Joint Lead Arrangers and Bookrunners (the “Credit Agreement”) .","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1418819/000141881924000013/0001418819-24-000013-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"various lenders and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; Deutsche Bank Securities Inc., Barclays Bank PLC, and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Bookrunners"},{"label":"Value","value":"$125 million"},{"label":"Effective","value":"2024-03-25"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}