Iridium, Iridium, 9/29/2009 sale of company & IPO. In a somewhat complicated deal (we’ve seen worse), a Greenhill (investment bank) sponsored SPAC (Special Purpose Acquisition Company) acquired the up and down (yes, a pun) satellite company Iridium for $539M (a unique Chessiecap calculation).
SkyTerra Communications, Inc., 9/23/2009 sale of company. This is another buyout of another local satellite company for approximately the same transaction value as Iridium—all in the same week.
Mini-Notes. Sleep Solutions (SSI) (9/22/2009) raised a respectable $20M led by new money from Quaker BioVentures near Baltimore. SSI is developing technologies for the sleep apnea market,