Weekly Deal Roundup

Crown Castle International Amends Credit Facility and Increases Revolving Credit Facility to $400 Million
From: RCR Wireless Stockwatch
Crown Castle International Corp. (CCI) announced today the successful completion of an amendment to its operating company credit facility and extension of its operating company revolving credit facility (“Revolver”). The Revolver lenders have agreed to extend the maturity of Revolver commitments totaling $400 million through September 30, 2013. Crown Castle expects the Revolver to be undrawn at December 31, 2009.
Read the entire press release.
FiberTower Announces Completion of Mandatory Redemption and Reverse Stock Split
From: RCR Wireless Stockwatch
FiberTower Corporation (FTWR), a wireless services backhaul provider, today announced that it has completed the mandatory redemption of the Company’s 9.00% Mandatorily Redeemable Convertible Senior Secured Notes due 2012 (the “Interim Notes”). The closing of the transaction strengthens the Company’s balance sheet by reducing total debt outstanding by $153.3 million to $140.5 million and extending debt maturity. In addition, the Company’s annual cash interest payments have been reduced by $23.2 million to $5.8 million (including cash interest on untendered 9.00% Convertible Senior Secured Notes due 2012 (the “Existing Notes”)).
At closing, all $266.8 million of the Company’s Interim Notes were exchanged in consideration for the following: 30.6 million shares of the Company’s common shares (adjusted on a reverse stock split basis); $12.7 million in cash; and $113.5 million in 9.00% Senior Secured Notes due 2016 (the “New Notes”).
Read the entire press release.
Globalstar picks up GPS asset-tracking supplier
From: RCR Wireless News
Globalstar Inc. and its wholly owned subsidiary, Spot L.L.C., have acquired substantially all of the assets of Axonn L.L.C., which makes satellite GPS asset-tracking and messaging products including Globalstar’s Spot Satellite GPS Messenger for consumers, and the AXTracker and Smartone asset-tracking solutions, geared to enterprises.
Globalstar and Spot paid $1.5 million cash, as well as $5.5 million in stock and up to another $11 million in earnout payments based on sales for Axxon.
Read the entire story.
xG Technology updates private placement results
From: xG Technology
xG Technology, Inc. (LSE-AIM: XGT, “xG” or the “Company”), which has developed an innovative, low-cost, mobile VoIP and data communications system, is pleased to announce that, further to our announcement on 13 November, 2009, the Company has signed Securities Purchase Agreements to raise a total of $6,621,399 by the placing of 19,474,704 newly issued shares of Common Stock in the Company at $0.34 per share.
Read the entire press releases.
Airvana bought out by SAC, Blackstone
From: Boston Business Journal
Airvana Inc. is being taken private in a $530 million buyout by 72 Mobile Holdings LLC, a special purpose acquisition company lead by prominent hedge fund manager Stevie Cohen’s SAC Capital Group LLC.
The investment consortium, which also includes Backstone Group, GSO Capital Partners LP, Boston’s Sankaty Advisors LLC and ZelnickMedia, has agreed to pay $7.65 per share for Chelmsford, Mass.-based Airvana (Nasdaq: AIRV). According to Airvana officials, Randy Battat, president and CEO, and founders Vedat Eyuboglu and Sanjeev Verma, will exchange some of their shares in Airvana for an equity interest in the acquirer 72 Mobile.
Reach the entire story.