03.11.2021 - Speedcast Announces Successful Completion of Restructuring and Emergence Under New Ownership by Centerbridge

Recapitalization provides Speedcast with clean balance sheet and financial strength and flexibility WASHINGTON, D.C., March 11, 2021 - Speedcast has successfully completed its restructuring process and today emerged from chapter 11 proceedings under the ownership of Centerbridge Partners, L.P. and its affiliates. Following Centerbridge’s USD $500 million equity investment in the company, Speedcast now has a clean balance sheet with no secured debt and a healthy cash balance, optimally positioning it as a stable, long-term... Source: RealWire - View Press Release