GERMANTOWN, Md., May 13 /PRNewswire-FirstCall/ -- Hughes Communications,
Inc. (Nasdaq: HUGH) ("Hughes"), the global leader in broadband satellite
network solutions and services, today announced that it and certain members of
senior management are offering shares of its common stock in an underwritten
public offering. The offering will consist of an aggregate of 2,239,600
shares, of which approximately 2,000,000 shares are being offered by Hughes
and approximately 239,600 shares are expected to be offered by certain selling
stockholders, including members of its senior management. Hughes has also
granted an option to the underwriters to purchase approximately up to an
additional 335,940 shares of common stock. The shares will be sold under
Hughes' effective shelf registration statement. Hughes currently intends to
use the net proceeds for the acquisition of a satellite or general corporate
purposes. Hughes will not receive any proceeds from the sale of the shares by
the selling stockholders.
Goldman, Sachs & Co. and Lehman Brothers are acting as joint book-running
managers, with Banc of America, Cowen and Company, Morgan Stanley, UBS
Investment Bank, and Wachovia Securities acting as co-managers for the
offering.
Hughes has filed with the Securities and Exchange Commission a preliminary
prospectus supplement relating to the offering. When available, a copy of the
preliminary prospectus for the offering may be obtained from Goldman, Sachs &
Co., 85 Broad Street, New York, New York 10004, Attn: Prospectus Department
(Tel: 212-902-1171) and from Lehman Brothers Inc., c/o Broadridge Integrated
Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717
(Tel: 1-888-603-5847).
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction. These securities may not be sold nor any
offers to buy be accepted prior to the time that the prospectus supplement and
related prospectus are delivered in final form.
About Hughes Communications, Inc.
Hughes Communications, Inc. is the 100 percent owner of Hughes Network
Systems, LLC. Hughes is the global leader in providing broadband satellite
networks and services for enterprises, governments, small businesses and
consumers. HughesNet(R) encompasses all broadband solutions and managed
services from Hughes, bridging the best of satellite and terrestrial
technologies. Its broadband satellite products are based on global standards
approved by the TIA, ETSI, and ITU standards organizations, including
IPoS/DVB-S2, RSM-A, and GMR-1. To date, Hughes has shipped more than 1.5
million systems to customers in over 100 countries.
Headquartered outside Washington, DC, in Germantown, Maryland, USA, Hughes
maintains sales and support offices worldwide.
Hughes and HughesNet are registered trademarks of Hughes Network Systems,
LLC.
SOURCE Hughes Communications, Inc.
