-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MVRJa7VyroZUzaEgJDXtWZAVYekjg0CSxc6EjfMNqo8B7ITayrCesH+epSYGQWlI UFVjKN/tYd4h6OBd4CceOw== 0000756502-09-000043.txt : 20090522 0000756502-09-000043.hdr.sgml : 20090522 20090522160332 ACCESSION NUMBER: 0000756502-09-000043 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090519 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20090522 DATE AS OF CHANGE: 20090522 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SKYTERRA COMMUNICATIONS INC CENTRAL INDEX KEY: 0000756502 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATION SERVICES, NEC [4899] IRS NUMBER: 232368845 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13865 FILM NUMBER: 09849336 BUSINESS ADDRESS: STREET 1: 10802 PARKRIDGE BOULEVARD CITY: RESTON STATE: VA ZIP: 20191 BUSINESS PHONE: 703-390-2700 MAIL ADDRESS: STREET 1: 10802 PARKRIDGE BOULEVARD CITY: RESTON STATE: VA ZIP: 20191 FORMER COMPANY: FORMER CONFORMED NAME: RARE MEDIUM GROUP INC DATE OF NAME CHANGE: 19990414 FORMER COMPANY: FORMER CONFORMED NAME: ICC TECHNOLOGIES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: INTERNATIONAL COGENERATION CORP DATE OF NAME CHANGE: 19891005 8-K 1 form8k.htm FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported):

May 22, 2009 (May 19, 2009)

 

SkyTerra Communications, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

000-13865

23-2368845

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification Number)

            

10802 Parkridge Boulevard

Reston, VA 20191

(Address of principal executive offices, including zip code)

 

(703) 390-2700

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

Forward-Looking Statements

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties, including statements regarding our capital needs, business strategy, expectations and intentions. Statements that use the terms “believe,” “do not believe,” “anticipate,” “expect,” “plan,” “estimate,” “intend” and similar expressions are intended to identify forward-looking statements. These statements reflect our current views with respect to future events. Because our business is subject to numerous risks, uncertainties and other factors, our actual results could differ materially from those anticipated in the forward-looking statements. Actual results may differ from the forward looking statements in this report, and the differences could be substantial. We disclaim any obligation to publicly update these statements, or disclose any difference between our actual results and those reflected in these statements.

 

Item 1.01 Entry into a Material Definitive Agreement(s)

On May 19, 2009, SkyTerra LP amended its Launch Services Agreement (the “ILS Agreement”) with International Launch Services (“ILS”) to exercise an option to obtain a second launch by ILS of SkyTerra’s SKYT-2 satellite for a fixed price contract. The ILS Agreement provides for the launch of the SKYT-2 satellite with a launch window beginning December 1, 2010.

 

Simultaneously, the financing provisions with respect to the launch of the first satellite, SKYT-1, were amended to provide for earlier payment with respect to the first launch than previously scheduled, with a reduction in the relevant financing expense. Together, the amended ILS Launch Service Agreement, and option exercise for both satellites is for a fixed price of approximately $175,500,000.

 

Item 1.02 Termination of a Material Definitive Agreement

At the same time, on May 19, 2009, SkyTerra LP provided notice of termination for material breach of its Launch Services Agreement (the “Sea Launch Agreement”) with Sea Launch Company, L.L.C. (“Sea Launch”). Following previous discussions with Sea Launch, SkyTerra made the decision to terminate the Sea Launch Agreement and instead to proceed with ILS as its launch provider for SkyTerra’s SKYT-2 satellite, as discussed above. We are presently considering whether to pursue the return of the $12 million we have previously paid to Sea Launch under the Sea Launch Agreement. There can be no assurance that were we to pursue the recovery of the prior amounts paid to Sea Launch that we would be successful, or that the termination would be determined to be a termination for cause rather than a termination for convenience, in which latter event we would not be entitled to recovery of prior amounts paid and would instead be responsible for any additional payment due under the termination for convenience provisions of the Sea Launch Agreement.

 

 

 


SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.

 

 

Date: May 22, 2009

By:

/s/ Randy Segal

 

 

Name: Randy Segal

 

 

Title: Senior Vice President, General Counsel and Secretary

 

 

 

 

 

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