ViaSat closes public offering of 7.475 million shares

ViaSat Inc. (Nasdaq: VSAT) has closed its underwritten public offering of 7,475,000 shares of common stock, including 975,000 shares sold pursuant to the full exercise of the underwriters´ option to purchase additional shares, the company said.

All shares in the offering were sold for USD69.74 per share, before underwriting discounts.

ViaSat expects to use its estimated proceeds of USD502.5 million for general corporate purposes and to repay all or a portion of its outstanding borrowings under its revolving credit facility.

BofA Merrill Lynch, J.P. Morgan, Credit Suisse and Morgan Stanley acted as joint book-running managers for the offering. The co-managers of the offering were B. Riley & Co., Citizens Capital Markets, Inc., PJT Partners LP and SunTrust Robinson Humphrey.

ViaSat provides broadband and communications products and services worldwide. It is based in Carlsbad, California.