| Iridium World Communications Ltd. | |||
| Ticker: | IRIDF | Clarendon House, 2 Church Street | |
| Exchange: | NASDAQ-National Market | Hamilton, BERMU HM 11 | |
| Industry: | Service (SIC Code 4812) | 4412955600 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 3/14/97 | |
| U.S. Shares: | 9,600,000 | Offer Date: | 6/9/97 | |
| Non-U.S. Shares: | 2,400,000 | Filing Range: | $19.00 - $21.00 | |
| Primary Shares: | 12,000,000 | Offer Price: | $20.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.20 | |
| Offering Amount: | $240,000,000 | Selling: | $0.72 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 10,000,000 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| Issuer's Law Firm: | Sullivan & Cromwell |
| Bank's Law Firm: | Fried, Frank, Harris, Shriver & Jacobson |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $71.40 | Assets: | $2.43 | ||
| Net Income: | -$77.25 | Curr Assets: | |||
| EPS: | Liabilities: | $0.86 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | -$55.33 | Equity: | $1.57 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is developing and commercializing a global mobile wireless communications system that will enable subscribers to send and receive telephone calls virtually anywhere in the world -- all with one phone, one phone number and one customer bill. The IRIDIUM communications system will combine the convenience of terrestrial wireless systems with the global reach of the Iriduim's satellite system. The IRIDIUM System encompasses four components: the "space segment", which will include the low earth orbit satellite constellation and the related control facilities; the ground stations or "gateways", which will link the satellites to terrestrial communications systems; the IRIDIUM subscriber equipment, which will provide mobile access to the satellite system and terrestrial wireless systems; and the terrestrial wireless interprotocol roaming infrastructure, which will facilitate roaming among the IRIDIUM satellite system and multiple terrestrial wireless system that use different wireless protocols. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used by the company to purchase Class 1 Interests in Iridium pursuant to the terms of the 1997 Subscription Agreement and for general corporate purposes. |