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LightSquared Gets $265M In Financing

7/05/2011 09:59:09 AM Eastern
Reston, Va. - LightSquared, the wholesale-only integrated 4G-LTE wireless broadband and satellite network, announced that it has raised $265 million.

The capital was drawn from both existing investors as well as new investors in LightSquared.

The company said it will use these funds for general corporate purposes, which includes constructing its world-class 4G-LTE wholesale network. Over the last 12 months, LightSquared has raised more than $2.3 billion.

"This latest round of financing signals another endorsement by the financial markets of our business model and LightSquared's intent to use private capital to build out a new network to meet the growing demand across this entire nation for wireless broadband access," said Sanjiv Ahuja, chairman/CEO of LightSquared.

LightSquared presented the company's modified spectrum plan to the Federal Communications Commission (FCC) and proposed a solution to the GPS interference issue. The company has just entered into a multiyear wholesale agreement with NetTalk.com, the telecommunications and CE maker.

LightSquared offers universal broadband connectivity, wherever they are in the United States. For more information about LightSquared, go to www.lightsquared.com.
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