Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 89

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 stock, preferred stock, debt securities, depositary shares and warrants, which securities may be offered from time to time, separately or together, directly by us, by selling security holders, or through underwriters, dealers or agents at amounts, prices, interest rates and other terms to be determined at the time of the offering. Additionally, we consider strategic divestitures from time to time, such as the sale of our Link-16 tactical data link business that was completed in January 2023 for approximately $1.96 billion in cash, as well as divestitures of non-core assets or businesses.

We may, from time to time, seek to retire, prepay or repurchase our outstanding debt (including some or all of the Viasat's 5.625% Senior Notes due 2025 (the 2025 Notes)) through cash purchases and/or exchanges for equity or debt, in open-market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any, will be upon such terms and at such prices as we may determine, and will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material. During the second quarter of fiscal year 2025, we repurchased $359.2 million in aggregate principal amount of our outstanding notes in open market transactions, consisting of approximately $101.7 million of Inmarsat's 6.750% Senior Secured Notes due 2026 (the Inmarsat 2026 Notes) and $257.5 million of 2025 Notes. During the third quarter of fiscal year 2025, we redeemed the remaining Inmarsat 2026 Notes in full. As a result, we recorded a net loss on extinguishment of debt of approximately $96.6 million and $99.8 million in (loss) gain on extinguishment of debt, net in the condensed consolidated statement of operations, for the three and nine months ended December 31, 2024, respectively, mainly related to the redemption of the Inmarsat 2026 Notes (attributable to the related unamortized fair value adjustment made in purchase accounting). If any of the 2025 Notes are not repurchased, we intend to repay the remaining 2025 Notes at maturity in September 2025. Although we can give no assurances concerning our future liquidity, we believe that we have adequate sources of funding to meet our anticipated operating requirements for the next 12 months, which include, but are not