Gogo Completes Acquisition of Satcom Direct and Announces Leadership Transition [Yahoo! Finance]
Gogo Inc. (GOGO)
Last gogo inc. earnings: 3/13 07:00 am
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Source: Yahoo! Finance
Chris Moore Appointed Chief Executive Officer, Succeeding Oakleigh Thorne who Transitions to Executive Chair BROOMFIELD, Colo. Dec. 4, 2024 /PRNewswire/ -- Gogo Inc. (NASDAQ: GOGO) ("Gogo" or the "Company") today announced the completion of its acquisition of Satcom Direct ("SD"), creating the only multi-orbit, multi-band, in-flight connectivity provider serving the needs of every segment of the global business aviation ("BA") and military/government mobility markets. Gogo paid $375 million in cash and issued five million shares of Gogo stock to SD ownership at close and could pay up to an additional $225 million tied to realizing performance thresholds over the next four years. The transaction, including fees, was funded with $250 million of debt and $150 million of cash from the Gogo balance sheet. The interest rate on Gogo's incremental debt is SOFR plus 6%, and the Company's annual interest expense will increase by an estimated $25 million to $27 million . Gogo's net levera
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News
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GOGO
Earnings
- 11/5/24 - Beat
GOGO
Sec Filings
- 12/13/24 - Form 3
- 12/13/24 - Form 3
- 12/13/24 - Form 3
- GOGO's page on the SEC website