"http://www.copyright link/ NewSat equity raising gets lift-off...

"http://www.afr.com/ NewSat equity raising gets lift-off NewSat’s plans to send Australia’s first privately owned satellite into orbit are back on track after the company locked down the last component of a $600 million financing package. The company is expected to confirm this morning it completed a $105 million equity raising at 40¢ a share, a 23.1 per cent discount to its last closing price of 52¢. The stock has not traded since November as the company struggled to complete the equity raising, which has encountered difficulties due to the interdependent nature of NewSat’s funding sources. NewSat, which aims to launch the Jabiru 1 satellite in the first half of 2015, secured about $US400 million in financing from French and United States government export credit agencies last year because it is using suppliers from those countries. But the government agency funding was contingent on NewSat being able to raise $200 million in private funds. In turn, NewSat’s credibility with the capital markets depended on the government funding. After originally seeking to raise $200 million in equity, NewSat decided to change its funding mix to incorporate more debt. This required approval from the export agencies in a process that proved more bureaucratic than anticipated. Morgan Stanley was advising the company but walked away from the transaction in January. In addition to the equity, the company also raised $30 million in five-year, second-tier debt and established a $110 million credit facility with Standard Chartered bank. “Sometimes you change jockeys midway,” NewSat chief executive Adrian Ballantine said. “We have got a fantastic team, we ended up with Standard Chartered Bank, Credit Suisse and Baillieu who have been outstanding. Advisers are advisers, you do what is in the best interest of getting the deal done.” Mr Ballantine said significant investors would join the company’s share register as a result of the raising and following an offshore roadshow earlier this month. “These are significant investors, some of them are household names and of the highest reputation,” he said. NewSat believes Jabiru-1 will provide secure coverage above the Middle East and south Asia for communications suppliers to the US government, resources and construction companies with projects in the region and emerging market telcos. There are already about $US618 million in pre-orders for the satellite."

S, no problems. News today, resume trading VERY soon.

It is time for the investing public to discover NEWSAT!!