XM Radio Cashes Up With $178 Million In New Financing

SAT BUZZ

XM Radio Cashes Up With $178 Mil
In New Financing

An XM Radio Bird

Washington - Dec. 6, 2001
XM Satellite Radio today announced that it placed 10 million shares of its common stock in a public offering underwritten by Morgan Stanley resulting in gross proceeds of $112.5 million to the company. In addition, XM has granted the underwriter an over-allotment option to purchase an additional 1.5 million shares of common stock. The offering is expected to close early next week.

Separately, XM today also announced that it has closed a $66 million funding package with Boeing announced in October. The financing package included $35 million in new debt financing with Boeing Capital Services Corporation and $31 million in restructured obligations with Boeing Satellite Systems International, Inc.

XM President and CEO Hugh Panero said, "With these financings, representing $147.5 million in new funding, XM is well positioned to operate its business into the fourth quarter of 2002. We are very pleased to satisfy our near-term funding needs and take another major step in our overall funding program. XM has been available nationwide since November 12th and we are on our way to making XM truly the next generation of radio."

XM is transforming radio, an industry that has seen little technological change since FM, almost 40 years ago. XM provides music to soothe the mind and information to fill it.

XM's programming lineup features 100 coast-to-coast digital channels: 71 music channels, more than 30 of them commercial-free, from hip hop to opera, classical to country, bluegrass to blues; and 29 channels of sports, talk, children's and entertainment. XM also brings to the car, for the first time on radio, the same diverse selection of 24-hour news sources available in the home on cable and DIRECTV.

XM radios are available at major electronics retailers including Best Buy, Circuit City, Tweeter, participating RadioShack Dealers and Franchisees, Crutchfield, Good Guys, CarToys, Audio Express and Sound Advice; and at independent retailers.

Leading manufacturers such as Sony, Alpine and Pioneer offer a broad array of XM radios including models that will easily enable any existing car stereo system to receive XM service (the Pioneer Universal Receiver and the Sony Plug-and-Play) and over 20 models of new AM/FM/XM systems offering many other great features.

General Motors this month rolled out factory-installed Delphi-Delco XM radios in Cadillac DeVille and Seville models, and will expand to more than 20 GM models next year. XM's strategic investors include America's leading car, radio and satellite TV companies -- General Motors, American Honda Motor Co. Inc., Clear Channel Communications and DIRECTV.

SPACEMART

XM Satellite Writes Up Early Dividend With More Script

Washington - Oct. 5, 2001
XM Satellite Radio Holdings Inc. announced today that it has declared a regular quarterly dividend on its 8.25% Series B Convertible Redeemable Preferred Stock. The dividend is payable in shares of the Company's Class A Common Stock at a rate of $1.0313 per share of Series B Preferred Stock owned, with fractional shares to be paid in cash.

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.