Company: VSAT
Filing Date: 2025-06-13
Form Type: 8-K
Source: 0001193125-25-140346
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Company: VIASAT INC
Filing Date: 2025-06-13
Form: 8-K
Item: Item 7.01
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Item 7.01      Regulation FD Disclosure.  

On June 13, 2025, Viasat, Inc. (“ Viasat”) issued a press release announcing that its subsidiary Inmarsat Global Limited (“ Inmarsat”) has agreed to a binding settlement term sheet (the “ Term Sheet”) with Ligado Networks LLC (“ Ligado”), AST & Science, LLC (“ AST”), and other specified parties, which outlines the principal terms of a consensual restructuring transaction. This transaction is part of Ligado’s Chapter 11 reorganization efforts and settles Inmarsat’s opposition to Ligado’s planned restructuring.

Under the Term Sheet, and subject to bankruptcy court approval, among other conditions, Viasat anticipates receiving approximately $568 million from Ligado in its fiscal year ending March 31, 2026, which Viasat plans to primarily use to manage near term maturities and address its extended maturity profile. Specifically, Inmarsat, Ligado and AST agreed to the following:

  Starting on September 30, 2025, Ligado will resume making quarterly payments of approximately $16 million per quarter to Inmarsat. The quarterly payment amount will increase 3% per year for the...  

  Ligado will make a $420 million lump sum payment to Inmarsat on October 31, 2025.  

  Ligado will pay a lump sum payment of $100 million to Inmarsat on March 31, 2026.  

  Ligado’s lawsuit against Inmarsat is stayed effective immediately and will be dismissed under conditions set forth in the Term Sheet.  

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.