WASHINGTON-Iridium World Communications Ltd., which is listed on Nasdaq, announced
Jan. 4 it plans an add-on public offering of 7.5 million shares of its Class A common stock.
Iridium World is the
public investment vehicle for Iridium L.L.C., which launched commercial satellite telephony and paging services Nov.
1. Net proceeds of the planned stock sale will provide new financing for Iridium L.L.C. Six million shares will be for
sale in the United States and Canada, and the rest will be offered abroad. The underwriting syndicate for the deal
includes Merrill Lynch & Co. as lead manager, joined by Goldman Sachs & Co., NationsBanc Montgomery Securities
L.L.C., Salomon Smith Barney and SoundView Technology Group.
