Subsequent Events |
6 Months Ended |
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Jun. 30, 2016 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Subsequent Events
Effective July 27, 2016, the Company completed the purchase of EMC, a land and maritime satellite communications company, in exchange for stock, cash and the assumption of certain legacy EMC debt. The purchase price, which is subject to customary post-closing working capital and other adjustments, consisted of (i) $30 million in cash paid at closing, (ii) approximately 5.5 million shares of Company common stock issued at the closing, (iii) the Company's assumption of approximately $386 million of EMC's indebtedness, (iv) the redemption for cash of approximately $55 million of existing seller preferred stock and (v) $25 million in deferred compensation to be paid in cash or newly issued Company common stock (at the Company's option) one year after the closing.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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