GHL Acquisition Corp. Announces Management Changes
21 September 2009 - 10:00PM
PR Newswire (US)
NEW YORK, Sept. 21 /PRNewswire-FirstCall/ -- GHL Acquisition Corp.
("GHL Acquisition") (NYX: GHQ, GHQ.WS and GHQ.U) announced today
that, in order to permit GHL Acquisition to be in full compliance
with the technical requirements of the listings standards of the
Nasdaq Stock Market at the time of its anticipated listing on the
Nasdaq Stock Market, Scott L. Bok has resigned from his position as
Chief Executive Officer of GHL Acquisition; he will remain Chairman
of GHL Acquisition. It is anticipated that GHL Acquisition will
begin trading on the Nasdaq Stock Market on September 24, 2009
under the symbols IRDM, IRDMW and IRDMU, respectively. Robert H.
Niehaus, formerly a Senior Vice President of GHL Acquisition, will
succeed Mr. Bok as Chief Executive Officer until completion of the
acquisition by GHL Acquisition of Iridium Holdings LLC. Following
the closing of the acquisition, the management and Board of
Directors of the combined company will be as described in the proxy
statement filed by GHL Acquisition with the Securities and Exchange
Commission. The acquisition of Iridium by GHL Acquisition is
subject to approval by the shareholders of GHL Acquisition. A
special meeting of stockholders of GHL Acquisition to vote on the
proposed acquisition has been scheduled for September 23, 2009.
About GHL Acquisition Corp. GHL Acquisition is a special purpose
acquisition company launched in February 2008 in an initial public
offering raising $400 million of gross proceeds. Founded by
Greenhill & Co., GHL Acquisition was formed for the purpose of
acquiring, or acquiring control of, through a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination, one or more businesses or assets. It
currently has no operating businesses. Forward-Looking Statements
and Other Disclosure This press release contains, and GHL
Acquisition's management may make, certain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. The words "anticipates," "may," "can,"
"believes," "expects," "projects," "intends," "likely," "will," "to
be" and other expressions that are predictions of or indicate
future events, trends or prospects identify forward-looking
statements. These forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of GHL Acquisition to
differ materially from any future results, performance or
achievements expressed or implied by such forward-looking
statements. These risks and uncertainties include, but are not
limited to, uncertainties regarding the timing of the proposed
transaction with Iridium, whether the transaction will be approved
by GHL Acquisition's stockholders, whether the closing conditions
will be satisfied (including receipt of regulatory approvals), as
well as industry and economic conditions, and competitive, legal,
governmental and technological factors. There is no assurance that
GHL Acquisition's expectations will be realized. If one or more of
these risks or uncertainties materialize, or if GHL Acquisition's
underlying assumptions prove incorrect, actual results may vary
materially from those expected, estimated or projected. GHL
Acquisition's forward-looking statements speak only as of the date
of this press release or as of the date they are made, and, except
as required by law, GHL Acquisition undertakes no obligation to
update forward-looking statements. This press release is for
informational purposes only and does not constitute an offer of any
securities for sale. Contact: James Babski GHL Acquisition Corp.
+1-212-372-4180 DATASOURCE: GHL Acquisition Corp. CONTACT: James
Babski, GHL Acquisition Corp., +1-212-372-4180,
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