Speedcast International Limited announced a private placement of common shares for gross proceeds of AUD 550,700,000 on August 13, 2020. The transaction will include participation from new investor Centerbridge Partners, L.P. and its affiliates, and the company's official committee of unsecured creditors. The transaction is subject to confirmation of the company's plan of reorganization and a number of other conditions, including various regulatory approvals and waivers.