Press Release

Mar 31, 2010



ViaSat Announces Closing of Public Offering of Common Stock


CARLSBAD, Calif., March 31, 2010 /PRNewswire via COMTEX News Network/ -- ViaSat Inc. (Nasdaq: VSAT) today announced the closing of its previously announced underwritten public offering of common stock. The size of the offering had been increased from the previously announced 5,500,000 shares of common stock to 6,000,000 shares at a public offering price of $33.50 per share. In addition, the underwriters exercised their over-allotment option to purchase an additional 446,689 shares from ViaSat and an additional 453,311 shares from certain selling stockholders. After giving effect to the upsizing of the offering and the exercise of the over-allotment option, the public offering consisted of 6,900,000 shares, comprising 3,173,962 shares sold by ViaSat and 3,726,038 shares sold by the selling stockholders.


(Logo: http://www.newscom.com/cgi-bin/prnh/20091216/VIASATLOGO)


ViaSat expects to use the net proceeds it received from the offering (which are estimated to be approximately $100.5 million after deducting underwriting discounts and estimated offering expenses) for general corporate purposes, which may include working capital, capital expenditures, financing costs related to the purchase, launch and operation of its ViaSat-1 satellite or any future satellite, or other potential acquisitions. Pending application of the net proceeds as described above, ViaSat may use all or a portion of the net proceeds to repay outstanding borrowings under its revolving credit facility. ViaSat did not receive any proceeds from the sale of shares by the selling stockholders.


Morgan Stanley, BofA Merrill Lynch and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the offering. The co-managers of the offering were Barclays Capital, Needham & Company, LLC and Stephens Inc. The offering was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.


This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. In addition, please refer to the risk factors contained in ViaSat's SEC filings available at www.sec.gov, including ViaSat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. ViaSat undertakes no obligation to update or revise any forward-looking statements for any reason.


SOURCE ViaSat Inc.


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