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Intelsat Completes Acquisition of Gogo Commercial Aviation, Announces Leadership Appointments

Intelsat is now the leading global provider of inflight broadband services to commercial airlines

MCLEAN, Va.–(BUSINESS WIRE)–Intelsat (OTC: INTEQ) today completed its acquisition of the Commercial Aviation business of Gogo (NASDAQ: GOGO), creating the world’s leading provider of inflight broadband connectivity to the commercial aviation industry.

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The closing of the $400 million cash deal brings together two complementary enterprises — the world’s largest satellite operator with the leading provider of commercial inflight broadband and entertainment services — to deliver unprecedented innovation and long-term value to commercial airlines.

“Combining Intelsat’s next-generation global telecommunications network with Gogo Commercial Aviation’s leading capabilities and airline relationships will create unprecedented innovation in inflight digital connectivity, unlocking exciting new growth and brand loyalty opportunities across the airline industry,” said Intelsat Chief Executive Stephen Spengler. “With our powerful, integrated offering, airlines will no longer need to trade off speed, reliability or availability for coverage, even when flying at full capacity in and out of the busiest airport hubs.”

The culmination of this transaction further propels Intelsat into vertically integrated managed mobility services, and deeper into the growing inflight connectivity market. Broadband connectivity for nine of the top 20 global airlines and an installed base of more than 3,000 commercial aircraft are now part of Intelsat’s portfolio of services.

Intelsat announced several leadership changes, effective today, as part of the deal close:

• John Wade will remain president of Gogo Commercial Aviation, now a division of Intelsat. In this role, he will manage all aspects of the business, including product, sales, account management, quality and service delivery. Wade has more than 30 years of experience in the aviation industry; he joined Gogo in 2008, serving as Chief Operating Officer and General Manager of Gogo’s Business Aviation division before assuming his current position.
• Bruno Fromont has been named Intelsat’s Chief Technology Officer. He will lead spectrum strategy, asset planning, product development and innovation. Fromont previously served as Intelsat’s Senior Vice President of Strategy and Planning, following vice president roles leading yield management, solutions development and asset management. Fromont has been a member of the Intelsat team for 20 years.
• Jon Cobin has been named Intelsat’s Chief Strategy Officer, leading the company’s corporate strategy and business development efforts. Cobin joins Intelsat from Gogo, where he served most recently as Chief Strategy Officer. Previously he held leadership positions within Gogo’s Commercial Aviation business, including Chief Commercial Officer. Cobin had been with Gogo for 11 years.

“Demand for inflight broadband is expected to grow at a double-digit rate over the next decade, and we remain committed to long-term success in broadband mobility services. With Gogo Commercial Aviation, we will bring our complementary and collective expertise to help solve our customers’ toughest inflight connectivity and entertainment challenges,” said Spengler. “Our ability to initiate, execute and rapidly finalize this transaction demonstrates the forward momentum that Intelsat has maintained over the course of this year.”

To learn more, visit www.intelsat.com/gogoca.

About Intelsat:

As the foundational architects of satellite technology, Intelsat operates the world’s largest and most advanced satellite fleet and connectivity infrastructure. We apply our unparalleled expertise and global scale to connect people, businesses, and communities, no matter how difficult the challenge. Intelsat is uniquely positioned to help our customers turn possibilities into reality – transformation happens when businesses, governments, and communities use Intelsat’s next-generation global network and managed services to build their connected future. Imagine here, with us, at Intelsat.com.

Forward-Looking Statements

Certain statements herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contain words such as “expect,” “anticipate,” “could,” “should,” “intend,” “plan,” “believe,” “seek,” “see,” “may,” “will,” “would,” or “target.” Forward-looking statements are based on management’s current expectations, beliefs, assumptions, and estimates. Forward-looking statements contained herein concerning, among other things, the ultimate outcome and the benefits and cost savings of the transaction and future financial performance, involve risks and uncertainties, and are subject to change based on various important factors, including the impact of changes in international, national and regional economies, such as the impact of the COVID-19 pandemic, and our successful integration of Gogo’s commercial aviation business (including achievement of synergies and cost reductions, particularly while Intelsat S.A. and certain of its subsidiaries are undergoing a restructuring through Chapter 11 proceedings in U.S. Bankruptcy Court). Forward-looking statements are also subject to the risk factors and cautionary language described from time to time in the reports Intelsat S.A. (the “Company”) files with the U.S. Securities and Exchange Commission, including those in the Company’s most recent Annual Report on Form 10-K and any updates thereto in the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These risks and uncertainties may cause actual future results to be materially different than those expressed in such forward-looking statements. The Company has no obligation to update or revise these forward-looking statements and does not undertake to do so.

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Intelsat

Melissa Longo – [email protected]; 240-308-1881

KEYWORDS: United States North America Virginia

INDUSTRY KEYWORDS: Mobile/Wireless Technology Air Satellite Transport Telecommunications Networks Internet Transportation Travel

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Lonestar Resources US Inc. Successfully Completes Restructuring

FORT WORTH, Texas–(BUSINESS WIRE)–
Lonestar Resources US Inc. (the “Company” or “Lonestar”) today announced that effective November 30, 2020, the Company has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy, having satisfied all of the conditions to the effectiveness of its plan of reorganization (the “Plan”). Through its financial restructuring, Lonestar has eliminated approximately $390 million in aggregate debt obligations and preferred equity interests.

Effective today, Lonestar has entered into a new $225 million first-out senior secured revolving credit facility (“Revolver”) and a $60 million second-out senior secured term loan credit facility by amending and restating the Company’s existing credit agreement. At closing, Lonestar has $210 million outstanding on the revolver and a post-emergence cash balance of approximately $20.7 million.

New Board of Directors

In accordance with the Plan, today the Company appointed a newly constituted Board of Directors (the “Board”). The new Board consists of Richard Burnett, Gary D. Packer, Andrei Verona and Eric Long, in addition to Frank D. Bracken, III, Lonestar’s Chief Executive Officer.

Issuance of New Securities

Effective immediately, all existing shares of the Company’s common stock were cancelled pursuant to the Plan, and the Company issued approximately 10,000,000 shares of new common stock in the Company, par value $0.001 (the “New Common Stock”), to the holders of the Prepetition Notes (as defined in the Plan) and the Company’s old common shares and old preferred shares.

Additionally, the Company issued 555,555 Tranche 1 Warrants and 555,555 Tranche 2 Warrants to holders of Allowed Prepetition RBL Claims (as defined in the Plan) or their permitted designees, as applicable.

Advisors

The Company was represented in this matter by Latham & Watkins LLP, Hunton Andrews Kurth LLP, Intrepid Partners LLC, Rothschild & Co US Inc. and AlixPartners, LLP.

For More Information

Additional details of the Plan and the New Common Stock can be found in the Company’s prior filings with the SEC, as well as in a Current Report on Form 8-K to be subsequently filed with the SEC on or around November 30, 2020. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov.

About Lonestar

Lonestar is an independent energy company focused on the development, production and acquisition of unconventional oil, natural gas liquids and natural gas properties in the Eagle Ford Shale in Texas.

Forward Looking Statements

This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties and projections of results of operations or of financial condition or forecasts of future events that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Words such as “could,” “will,” “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” “forward” or “continue” and similar expressions are used to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this communication include statements concerning management’s expectations of plans, strategies, objectives, growth and anticipated financial and operational performance, financial prospects, business strategies, anticipated sources and uses of capital, future financial prospects and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the effects of future litigation, including litigation relating to the Chapter 11 Cases or the restructuring. Forward-looking statements can be affected by assumptions used or by known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. These forward-looking statements speak only as of the date of this communication, and the Company expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of the Company, including the most recent Forms 10-K and 10-Q for additional information about the Company and about the risks and uncertainties related to the Company’s business which may affect the statements made in this communication.

No Solicitation or Offer

Any new securities to be issued pursuant to the restructuring transactions may not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws but may be issued pursuant to an exemption from such registration provided in the U.S. bankruptcy code. Such new securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell or buy, nor the solicitation of an offer to sell or buy, any securities referred to herein, nor is this press release a solicitation of consents to or votes to accept any chapter 11 plan. Any solicitation or offer will only be made pursuant to a confidential offering memorandum and disclosure statement and only to such persons and in such jurisdictions as is permitted under applicable law.

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Chase Booth, 817-921-1889

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Oil/Gas Energy

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– Deepens presence and cross-selling capabilities in transportation sector –

Dr. Reddy’s and RDIF commence clinical trials for Sputnik V vaccine in India

HYDERABAD, India–(BUSINESS WIRE)–
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY), and Russian Direct Investment Fund (RDIF) announced today that they have commenced adaptive phase 2/3 clinical trials for Sputnik V vaccine in India after receiving the necessary clearance from the Central Drugs Laboratory, Kasauli, India. This will be a multicenter and randomized controlled study, which will include safety and immunogenicity study.

The clinical trials are being conducted by JSS Medical Research as the clinical research partner. Further, Dr. Reddy’s has partnered with the Biotechnology Industry Research Assistance Council (BIRAC), Department of Biotechnology (DBT) for advisory support and to use BIRAC’s clinical trial centres for the vaccine.

Recently, RDIF announced the second interim analysis of clinical trial data, which showed 91.4% efficacy for the vaccine on day 28 after the first dose; vaccine efficacy over 95% 42 days after the first dose. Currently, 40,000 volunteers are taking part in Phase III of Sputnik V clinical trials, out of which over 22,000 have been vaccinated with the first dose of the vaccine and more than 19,000 – with both the first and second doses of the vaccine.

G V Prasad, Co-chairman and Managing Director, Dr. Reddy’s Laboratories said, “This is another significant step as we continue to collaborate with multiple entities along with the government bodies to fast-track the process for launching the vaccine in India. We are working towards making the vaccine available with a combination of import and indigenous production model.”

In September 2020, Dr. Reddy’s and RDIF entered into a partnership to conduct clinical trials of the Sputnik V vaccine and the rights for distribution of the first 100 million doses in India.

On August 11, 2020, the Sputnik V vaccine developed by the Gamaleya National Research Institute of Epidemiology and Microbiology was registered by the Ministry of Health of Russia and became the World’s first registered vaccine against COVID-19 based on the human adenoviral vector platform.

About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy’s operates in markets across the globe. Our major markets include – USA, India, Russia & CIS countries, and Europe. For more information, log on to:www.drreddys.com

Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues , and (vi) the susceptibility of our industry and the markets addressed by our, and our customers’, products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the “Risk Factors” and “Forward-Looking Statements” sections of our Annual Report on Form 20-F for the year ended March 31, 2020. The company assumes no obligation to update any information contained herein.

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INVESTOR RELATIONS

AMIT AGARWAL

[email protected]

(PH: +91-40-49002135)

MEDIA RELATIONS

APARNA TEKURI

[email protected]

(PH: +91-40-49002446)

KEYWORDS: United States India North America Asia Pacific New York

INDUSTRY KEYWORDS: FDA Health Infectious Diseases Clinical Trials Pharmaceutical Biotechnology

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