Stephen Lacey is US Editor for International Financing Review, helping to oversee editorial content across the region. He has particular expertise in coverage of the equity capital markets – IPOs, follow-on stock sales, and equity-linked securities – spanning the entire corporate life cycle, from venture and private equity to entry and maturation in the public markets.
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In-flight internet connectivity has long captivated the financial markets. But technical challenges and the regulatory overlay of providing seamless service at 30,000 feet and 400-plus miles per hour have been the downfall of some aspirants.
In-flight wireless communication provider Gogo has a clear vision of the future, even if its detractors aren’t entirely sold. The company is looking to raise US$300m on the sale of a five-year convertible bond to help fund ongoing installations and the launch of its next-generation service.
Exploration & production companies are continuing to look to equity to de-risk balance sheets, extending already reduced capital expenditure budgets amid historically low oil prices. Permian Basin-focused Laredo Petroleum and Goodrich Petroleum, a highly-levered explorer focused on the Tuscaloosa Marine Shale, are the latest to recapitalise through stock sales.