Hughes Communicationshas announced that it and certain members of senior management are offering shares of its common stock in an underwritten public offering.
The offering will consist of an aggregate of 2,239,600 shares, of which approximately 2,000,000 shares are being offered by Hughes and approximately 239,600 shares are expected to be offered by certain selling stockholders, including members of its senior management.
Hughes has also granted an option to the underwriters to purchase approximately up to an additional 335,940 shares of common stock.
The shares will be sold under Hughes' effective shelf registration statement. Hughes currently intends to use the net proceeds for the acquisition of a satellite or general corporate purposes.
Hughes will not receive any proceeds from the sale of the shares by the selling stockholders.
Goldman, Sachs and Co. and Lehman Brothers are acting as joint book-running managers, with Banc of America, Cowen and Company, Morgan Stanley, UBS Investment Bank, and Wachovia Securities acting as co-managers for the offering.
