Iridium Communications Inc · NASDAQ:IRDM
Iridium Communications — GHL Acquisition — SPAC Merger (June 2009)
20 slides from Iridium Communications's SPAC merger presentation, Jun 17, 2009
Slide 1: Forward Looking Statements
================================================================================ Forward Looking Statements - -------------------------------------------------------------------------------- This communication contains forward-looking statements within the meaning of Section 27A of the Securities Ac
Slide 2: Additional Information and Where to Find It
================================================================================ Additional Information and Where to Find It - -------------------------------------------------------------------------------- This communication is being made with respect to a proposed acquisition and related transact
Slide 3: Participants in the Solicitation
================================================================================ Participants in the Solicitation - -------------------------------------------------------------------------------- GHQ and its directors and officers may be deemed to be participants in the solicitation of proxies to G
Slide 4: Iridium Going Public Through Merger with GHQ
================================================================================ Iridium Going Public Through Merger with GHQ - -------------------------------------------------------------------------------- Iridium will enter the public markets through a combination with GHL Acquisition Corp. ("GH
Slide 5: Iridium: Positioned for Continued Strong Growth
================================================================================ Iridium: Positioned for Continued Strong Growth - -------------------------------------------------------------------------------- The transaction allows Iridium to emerge as a public company with no net debt, ready to
Slide 6: Global Network Providing Unique Capabilities
================================================================================ Global Network Providing Unique Capabilities - -------------------------------------------------------------------------------- Iridium is the world's largest and most sophisticated commercial satellite network providin
Slide 7: Strong Performance Across Verticals
=============================================================================== - -------------------------------------------------------------------------------- Iridium has grown rapidly and consistently, as measured by subscribers, revenues and Operational EBITDA Strong Performance Across Vertica
Slide 8: Strong Position in Growing Market
================================================================================ Strong Position in Growing Market - -------------------------------------------------------------------------------- Mobile Satellite Services (MSS) is a $1.3B market, with service revenues growing at 10% and equipment
Slide 9: Iridium's Key Growth Strategies
================================================================================ Iridium's Key Growth Strategies - -------------------------------------------------------------------------------- Iridium's largely fixed cost business model allows very high operating profit of any incremental new ser
Slide 10: Strong Presence in Critical Applications
- -------------------------------------------------------------------------------- Strong Presence in Critical Applications - -------------------------------------------------------------------------------- [GRAPHIC OMITTED] [GRAPHIC OMITTED] [GRAPHIC OMITTED] - -------------------------------------
Slide 11: Defense Department Anchor Customer
================================================================================ Defense Department Anchor Customer - -------------------------------------------------------------------------------- Iridium continues to be an embedded part of the DoD's communications infrastructure, with many new op
Slide 12: Iridium NEXT - Our Second Generation
================================================================================ Iridium NEXT - Our Second Generation - -------------------------------------------------------------------------------- Iridium expects to fund the capital requirements (approximately $2.7bn) primarily from internally g
Slide 13: Opportunity to Share NEXT Infrastructure
================================================================================ Opportunity to Share NEXT Infrastructure - -------------------------------------------------------------------------------- Including secondary payloads on NEXT could significantly defray overall capital costs [GRAPHIC
Slide 14: Summary Historical Financial Statements
================================================================================ Summary Historical Financial Statements - -------------------------------------------------------------------------------- Despite difficult economic conditions, Iridium anticipates full year 2009 Operational EBITDA of
Slide 15: Summary of Post-Transaction Iridium Balance Sheet Assuming 30% Redemptions
================================================================================ Summary of Post-Transaction Iridium Balance Sheet Assuming 30% Redemptions - -------------------------------------------------------------------------------- Post-transaction, Iridium will have a strong balance sheet wi
Slide 16: Future Financing Plans & Options
================================================================================ Future Financing Plans & Options - -------------------------------------------------------------------------------- GHQ transaction and NEXT procurement strategy offer several flexible financing options [] Strong initia
Slide 17: Valuation Comparison
================================================================================ Valuation Comparison - -------------------------------------------------------------------------------- Iridium's fully-distributed valuation post-transaction represents a 42% discount to the EBITDA multiple of its clos
Slide 18: Iridium: Positioned for Continued Strong Growth
================================================================================ Iridium: Positioned for Continued Strong Growth - -------------------------------------------------------------------------------- The transaction allows Iridium to emerge as a public company with no net debt, ready to
Slide 19: Non GAAP to GAAP Financial Measure Reconciliation
======================================================================================= Non GAAP to GAAP Financial Measure Reconciliation - --------------------------------------------------------------------------------------- 3 Months ($ in millions) Years Ended December 31, Ended Mar. 31 --------
Slide 20: Non GAAP to GAAP Financial Measure Reconciliation
Non GAAP to GAAP Financial Measure Reconciliation (Sinmitions) Net Income Interest Expense Interest Income Depreciation and Amortization NEXT Costs Non-Recurring Transaction Expenses Operational EBITDA, 2002 2003 ($508) ($34.4) 63 a4 00 (0.1) 7 67 00 00 00 00 (8329) (819.4) Years Ended December 31,