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.

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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

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Iridium Communications Inc. filing history →

Source: SEC EDGAR

accession 0001418819-26-000032

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