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LightSquared Secures $265 Million in Additional Financing
Posted: 05-Jul-2011 [Source: LightSquared]

[LightSquared to use new funds to continue construction of it 4G-LTE wholesale network.]

Reston, VA -- LightSquaredâ„¢, the nation's first wholesale-only integrated 4G-LTE wireless broadband and satellite network, announced today that it has raised $265 million. The capital was drawn from both existing investors as well as new investors in the company. LightSquared will use these funds for general corporate purposes, which includes constructing its world-class 4G-LTE wholesale network. Over the last 12 months LightSquared has raised over $2.3 billion.

"This latest round of financing signals another endorsement by the financial markets of our business model, and LightSquared's intent to use private capital to build out a new network to meet the growing demand across this entire nation for wireless broadband access," said Sanjiv Ahuja, chairman and chief executive officer of LightSquared.

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