IRDM — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-20

• The Transaction is expected to be completed by mid-2027, subject to the satisfaction of remaining customary closing conditions, including (i) consent of the U.S. Federal Communications Commission to the transfer of control of certain of our telecommunication authorizations; (ii) receipt of clearance…

• The waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), related to the Transaction expired on August 12, 2026 and, on September 24, 2026, our stockholders approved the Transaction at a special meeting of stockholders (the “Special Meeting”). The ex…

• On September 15, 2026, we entered into the fourth amendment to the credit agreement (the “Fourth Amendment”), which, among other things, provides that the Transaction shall not constitute a change of control under the credit agreement. The term loan in an original aggregate principal amount equal to…

• The Merger Agreement also subjects us to interim operating covenants that generally require us to conduct our business in the ordinary course consistent with past practice and preserve our business organization, key personnel, customer and business relationships, and material assets, and restrict us…

• For more information regarding the Transaction and related arrangements, see the definitive merger proxy statement related to the Special Meeting that we filed on August 26, 2026 and the Current Reports on Form 8-K that we filed on June 29, 2026, September 15, 2026, September 18, 2026, and September…

Text removed vs the prior filing · source: 10-Q · 2026-07-22

• The Transaction is expected to be completed in mid-2027, subject to the satisfaction of customary closing conditions, including (i) the adoption of the Merger Agreement and the Transaction by the affirmative vote of the holders of a majority of our outstanding common stock; (ii) the expiration or te…

• For more information regarding the Transaction and related arrangements, see the Current Report on Form 8-K that we filed on June 29, 2026.

• Income before income taxes and loss on equity method investments

• Cost of services (exclusive of depreciation and amortization) decreased by $2.3 million, or 4%, for the three months ended June 30, 2026 from the prior year period, primarily as a result of decreased costs for network and satellite operations, maintenance and product support, as well as a decrease i…

• Research and development expenses increased by $1.3 million, or 29%, for the three months ended June 30, 2026, compared to the prior year period based on increased spending on new products and device-related features and technology for our network.

Text added vs the prior filing · source: 10-Q · 2026-10-20

• As of September 30, 2026, $50.0 million of the Revolving Facility was drawn. The Revolving Facility bears interest at SOFR plus 2.5%, without a SOFR floor.

Text removed vs the prior filing · source: 10-Q · 2026-07-22

• As of June 30, 2026, the Revolving Facility was undrawn. The Revolving Facility bears interest at SOFR plus 2.5%, without a SOFR floor. As of July 1, 2026, we fully drew our Revolving Facility and as drawn for every SOFR increase of 25 basis points, we expect our annual interest expense to increase …

Text added vs the prior filing · source: 10-Q · 2026-10-20

• Chief Financial OfficerAdoptionAugust 17, 202624,290August 17, 2027

• Suzanne McBrideChief Operating OfficerAdoptionAugust 19, 2026

• Timothy J. LastEVP, Sales & MarketingAdoption / TerminationAugust 25, 20265,600

• Chief Executive Officer & DirectorAdoptionSeptember 3, 2026546,274December 10, 2027

• (1) Represents the maximum number of shares of Iridium common stock that may be sold pursuant to the Rule 10b5-1 arrangement (the “arrangement”). The actual number of shares sold will be dependent on the satisfaction of certain conditions as set forth in the written plan.