Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 402

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 402
---
at S.A. (now Reorganized ISA S.A.) of 100% of Reorganized ISA S.A. common shares (subject to dilution by the exercise of certain new warrants issued by Reorganized ISA S.A., if any). All common shares of pre-EmergenceIntelsat S.A. (now Reorganized ISA S.A.) outstanding immediately prior to the Effective Date were extinguished. Certain holders of pre-EmergenceIntelsat S.A. (now Reorganized ISA S.A.) common shares who successfully opted into an equity group settlement obtained their pro rata shares of warrants issued by Reorganized ISA S.A. for up to 10% of Reorganized ISA S.A. common shares. The Reorganized ISA S.A. common shares and Reorganized ISA S.A. warrants are not reflected in these financial statements. Issuance of New Common Shares On the Effective Date, Intelsat S.A. issued 67,689,250 new common shares pro rata to certain holders of allowed unsecured claims against (i) Intelsat Jackson and certain of its subsidiaries, and (ii) Intelsat Connect. As of Emergence, 146,314 new common shares of Intelsat S.A. were placed in escrow pending resolution of certain claims in connection with the bankruptcy proceedings, and on July 3, 2023, such shares held in escrow were distributed to certain holders. Issuance of New Series A Warrants and New Series B Warrants On the Effective Date, Intelsat S.A. issued 6,709,012 new series A warrants (“New Series A Warrants”) and 1,911,401 new series B warrants (“New Series B Warrants” and together with the New Series A Warrants, the “New Warrants”) pro rata to certain holders of pre-EmergenceIntelsat S.A. (now Reorganized ISA S.A.) common shares. The New Warrants are exercisable to purchase one share of Intelsat S.A. new common shares per warrant, with New Series A Warrants having an initial exercise price of $60.15, subject to further adjustments, and New Series B Warrants having an initial exercise price of $77.22, subject to further adjustments. Each of the New Series A Warrants and New Series B Warrants expires on February 23, 2027. The Global Certificate (as defined in the Series B Warrant Agreement) mistakenly stated that 1,911,399 New Series