Intelsat Announces Conversion Ratio for the 5.75% Series A Mandatory Convertible Junior Non-Voting Preferred Shares
Luxembourg, 27 April 2016 – Intelsat S.A. (NYSE: I), operator of the world’s first Globalized Network, powered by its leading satellite backbone, today announced that the conversion ratio for the Company’s 3,450,000 5.75% Series A Mandatory Convertible Junior Non-Voting Preferred Shares (the Series A Preferred shares) has been determined.
On 1 May, 2016, each of the Company’s 3,450,000 Series A Preferred shares will automatically convert into 2.7778 shares of the Company’s common stock, based on the average closing share price of the Company’s common stock over the 40 consecutive trading days ending on 27 April, 2016, in accordance with the terms of the Series A Preferred shares. The automatic conversion will be recorded on 2 May 2016.
Intelsat S.A. (NYSE: I) operates the world’s first Globalized Network, delivering high-quality, cost-effective video and broadband services anywhere in the world. Intelsat’s Globalized Network combines the world’s largest satellite backbone with terrestrial infrastructure, managed services and an open, interoperable architecture to enable customers to drive revenue and reach through a new generation of network services. Thousands of organizations serving billions of people worldwide rely on Intelsat to provide ubiquitous broadband connectivity, multi-format video broadcasting, secure satellite communications and seamless mobility services. The end result is an entirely new world, one that allows us to envision the impossible, connect without boundaries and transform the ways in which we live. For more information, visit www.intelsat.com.
Vice President, Investor Relations and Corporate Communications