Reston, Va. - LightSquared, the wholesale-only integrated
4G-LTE wireless broadband and satellite network, announced that it has raised
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
"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.