On September 29, 2009, and GHL Acquisition completed the transaction to create Iridium Communications Inc. now traded on the NASDAQ stock exchange under the ticker symbol IRDM.
“This is an important milestone in the life of , as we take the first critical step toward securing the funding required for development and launch of our next generation satellite constellation, becoming a public company and establishing the transparency expected of a company that serves the critical interests of businesses globally,” said Matthew J. Desch, chief executive officer.
“Iridium is a strong company and an innovative competitor,” said Robert H. Niehaus, chairman of the board of directors of Iridium. “Today, with the close of this transaction, has a market cap of more than $785 million and a strong balance sheet with substantial cash. It marks the beginning of a very exciting time in the life of this very dynamic company.”