# Viasat to receive $568 million from Ligado in settlement deal

CARLSBAD, Calif. - Viasat Inc. (NASDAQ:VSAT) announced Friday that its subsidiary Inmarsat Global Ltd. has reached a settlement agreement with Ligado Networks and AST & Science regarding Inmarsat’s opposition to Ligado’s planned restructuring.

Under the terms of the agreement, Viasat expects to receive $568 million from Ligado in fiscal year 2026. The company plans to use these funds primarily to manage near-term debt maturities, which is crucial given its total debt of $7.5 billion. InvestingPro data reveals multiple key insights about Viasat’s financial health and growth prospects, available in the comprehensive Pro Research Report covering 1,400+ top US stocks.

The settlement includes several key provisions that require Bankruptcy Court approval. Starting September 30, 2025, Ligado will resume quarterly payments of approximately $16 million to Inmarsat, with payments increasing 3% annually through 2107. Additionally, Ligado will make lump sum payments of $420 million on October 31, 2025, and $100 million on March 31, 2026.

As part of the agreement, Ligado’s lawsuit against Inmarsat will be immediately stayed and eventually dismissed under conditions outlined in the term sheet.

"We are pleased that our patient and disciplined approach to Ligado’s bankruptcy paid off, resulting in a positive outcome for Viasat and our employees, customers, and shareholders," said Mark Dankberg, Chairman and CEO of Viasat. The market has responded positively to this development, with the stock showing a remarkable 23.78% return over the past week and trading at an attractive Price/Book ratio of 0.33x.

Viasat emphasized that its ability to provide mobile satellite services globally remains unaffected by the agreement.

The settlement represents a significant financial boost for Viasat, which completed its acquisition of Inmarsat in May 2023. The company stated that the agreement demonstrates the ability to introduce new satellite configurations within existing spectrum sharing arrangements that have provided stability in the industry.

According to the press release statement, Viasat had anticipated the potential for such an outcome when completing the Inmarsat acquisition and planned for utilizing cash proceeds to reduce debt.

In other recent news, Viasat Inc. reported its fourth-quarter fiscal year 2025 earnings, surpassing revenue expectations with $1.15 billion against a forecast of $1.13 billion. The company’s earnings per share (EPS) showed a narrower loss of $0.02 compared to the anticipated loss of $0.59. Concurrently, Viasat revised its stockholder agreements, which included the resignation of board member Andrew Sukawaty, marking a shift in corporate governance. Analysts at Needham adjusted their outlook on Viasat, reducing the price target to $16 from $19 while maintaining a Buy rating, noting moderated growth projections due to satellite capacity limitations. Viasat’s management has set financial guidance for fiscal year 2026, anticipating low single-digit revenue growth and stable EBITDA levels. The company continues to focus on expanding its competitive advantages in sectors like In-Flight Connectivity and Defense Technology, despite challenges. The recent developments, including the strategic acquisition of Inmarsat, reflect Viasat’s ongoing efforts to strengthen its position in the global communications landscape.

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