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In the GOGO: In-Flight Tech Stock, Going Up

January 4, 2017

 

Gogo Inc. Announces Pricing of $65 Million Senior Secured Notes Offering

 

Gogo, a provider of in-flight broadband Internet services for commercial and business aircraft, recently announced the pricing for the previously announced private offering of additional 12.500% senior secured notes due 2022 to be issued by its direct wholly owned subsidiary Gogo Intermediate Holdings LLC, and its indirect wholly owned subsidiary, Gogo Finance Co. Inc.

 

The principle amount of the additional notes is $65 million and they’ll be issued at a price equal to 108% of their face value which results in gross proceeds of $70.2 million. The Issuer intends to use the net proceeds from the sale of the Additional Notes for working capital and other general corporate purposes.

 

The Additional Notes and the guarantees are going to be offered in a private offering from the registration requirements of the United States Securities Act of 1933, as amended in the Securities Act. The Additional Notes and the guarantees will be offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.

 

The Additional Notes and the guarantees haven’t been registered under the Securities Act. It may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. 

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