Iridium to acquire remaining 61% of Aireon for $366.7M; assumes $155M debt

Iridium Communications Inc.

Purchase price $366.7M for 61% of Aireon; paid 50% at closing, 50% deferred for one year.
Iridium assumes Aireon's $155M debt; acquisition expected to add $100M annual service revenue and $30M OEBITDA.
Aireon's total revenue grew at 10% CAGR over past three years; acquisition accretive to growth.
NAV CANADA and NATS sign extended data services agreements through 2035.
Transaction targeted to close early July 2026; net leverage expected ~4.0x OEBITDA in Q3 2026, returning to normal within 12 months.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Iridium Communications Inc. entered into Securities Purchase Agreement with NAV CANADA, The Irish Air Navigation Service, ENAV S.P.A., Naviair Surveillance A/S, NATS (Services) Limited, and certain of their affiliated entities valued at aggregate purchase price approximately $366.7 million; 50% cash at Closing, 50% deferred with $183.3 (effective 2026-05-13).

Action: entry
Agreement: equity purchase
Counterparty: NAV CANADA, The Irish Air Navigation Service, ENAV S.P.A., Naviair Surveillance A/S, NATS (Services) Limited, and certain of their affiliated entities
Value: aggregate purchase price approximately $366.7 million; 50% cash at Closing, 50% deferred with $183.3
Effective: 2026-05-13

Exact text from the filing

On May 13, 2026, Iridium Communications Inc. (the “Company”), through its wholly owned subsidiary Iridium Monitor Holdings LLC (“Iridium Monitor Holdings”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with NAV CANADA, The Irish Air Navigation Service, ENAV S.P.A., Naviair Surveillance A/S, NATS (Services) Limited, and certain of their affiliated entities (collectively, the “Sellers”), pursuant to which Iridium Monitor Holdings agreed to acquire the remaining 61% of equity interests in Aireon Holdings LLC (“Aireon”) that the Company does not already own.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Iridium Communications Inc. entered into Credit and Guaranty Agreement with NAV CANADA, The Irish Air Navigation Service, ENAV S.P.A., Naviair Surveillance A/S, NATS (Services) Limited, and certain of their affiliated entities valued at $183.36 million term loan, bearing no interest, maturing one year following Closing (effective 2026-05-13).

Action: entry
Agreement: credit facility
Counterparty: NAV CANADA, The Irish Air Navigation Service, ENAV S.P.A., Naviair Surveillance A/S, NATS (Services) Limited, and certain of their affiliated entities
Value: $183.36 million term loan, bearing no interest, maturing one year following Closing
Effective: 2026-05-13

Exact text from the filing

At Closing, Iridium Monitor Holdings will enter into the Credit and Guaranty Agreement pursuant to which the Sellers will provide Iridium Monitor Holdings with a $183.36 million term loan, bearing no interest, and maturing one year following the Closing, to fund the deferred portion of the purchase price.

View on SEC.gov

273 material agreements filed in the last 30 days. Browse all material agreements →

Iridium Communications Inc. filing history →

Source: SEC EDGAR

accession 0001418819-26-000032

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.