Iridium to buy remaining 61% of Aireon for $366.7 million
Iridium agreed on May 13, 2026, to acquire the 61% of Aireon it does not already own for approximately $366.7 million, paid half in cash at closing and half as a seller loan due one year later. Iridium also expects to assume about $155.0 million of Aireon debt and expects net leverage to rise to about 4.0 times OEBITDA in Q3 2026, with its share buyback program remaining paused.
Key points
- Purchase price is approximately $366.7 million, with 50% paid in cash at closing and 50% as a $183.36 million, non-interest-bearing seller loan due one year after closing.
- Iridium expects to assume Aireon debt of about $155.0 million at closing, bearing interest at SOFR + 6.25% and maturing October 2028.
- Iridium expects the deal to add at least $100 million of annualized service revenue and $30 million of annualized OEBITDA.
- Net leverage is expected to rise to about 4.0 times OEBITDA in Q3 2026; the paused share buyback is unchanged, and closing is targeted for early July 2026, subject to regulatory approvals.
The filing
Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 14, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.