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On Wednesday, an individual stockholder sued Loral Space & Communications Inc. and members of its board of directors for securities violations in connection with the company’s proposed merger with Telesat Corporation and its subsidiaries.
The Southern District of New York complaint alleged that the satellite communications company’s April 26 registration statement filed with the Securities and Exchange Commission is materially incomplete and misleading. Without additional information, the filing claims that Loral Space stockholders cannot make an informed decision on how to vote their shares.
According to the complaint, Telesat Canada, an Ottawa-based company with offices worldwide, is “a global operator of telecommunications and direct broadcast satellites used to distribute video entertainment programming and broadband data and to provide access to Internet services and other value-added communications services.” Reportedly, Telesat is a
Telesat Canada Announces Proposed Secured Notes Offering
04/13/2021 | 09:15am EDT
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OTTAWA, April 13, 2021 (GLOBE NEWSWIRE) Telesat Canada (“Telesat”) today announced that, together with Telesat LLC, as co-issuer, it intends to issue US$500 million of senior secured notes due 2026 (the “Senior Secured Notes”) secured by a first priority lien on the collateral that secures Telesat’s existing credit agreement and existing 4.875% senior secured notes due 2027.
Telesat intends to use the net proceeds from the proposed offering of Senior Secured Notes (the “Offering”) to fund additional investment into one or more unrestricted subsidiaries for the development of Telesat Lightspeed, Telesat’s Low Earth Orbit (LEO) satellite network, for the payment of fees and expenses related to the Offering, and if the funding needs of Telesat Lightspeed are less than currently anticipated, for general corporate purposes.
The Globe and Mail Steve Scherer Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Paul Chiasson/The Canadian Press
Telesat is racing to launch a low-earth-orbit (LEO) satellite constellation to provide high-speed global broadband from space, pitting the satellite communications firm founded in 1969 against two trailblazing billionaires, Elon Musk and Jeff Bezos.
Musk, the Tesla Inc CEO who was only a year old when Telesat launched its first satellite, is putting the so-called Starlink LEO into orbit with his company SpaceX, and Amazon.com Inc, which Bezos founded, is planning a LEO called Project Kuiper. Bezos also owns Blue Origin, which builds rockets.
Telesat to provide fast broadband tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
RPT-FOCUS-Canada s Telesat takes on Musk and Bezos in space race to provide fast broadband Reuters 1 hr ago
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By Steve Scherer
OTTAWA, April 11 (Reuters) - Canada s Telesat is racing to launch a low-earth-orbit (LEO) satellite constellation to provide high-speed global broadband from space, pitting the satellite communications firm founded in 1969 against two trailblazing billionaires, Elon Musk and Jeff Bezos.
Musk, the Tesla Inc CEO who was only a year old when Telesat launched its first satellite, is putting the so-called Starlink LEO into orbit with his company SpaceX, and Amazon.com Inc, which Bezos founded, is planning a LEO called Project Kuiper. Bezos also owns Blue Origin, which builds rockets.