GHL Acquisition Corp. (“GHL Acquisition”) (NYX: GHQ, GHQ.WS and GHQ.U) announced its stockholders have voted to approve its acquisition of Iridium Holdings LLC (“Iridium”). 

The stockholders of GHL Acquisition also approved all of the other proposals which came before the special meeting of the stockholders held today.  Holders of 9,214,167 shares voted against the acquisition of Iridium and have submitted valid elections to seek redemption of their shares of common stock.  The acquisition of Iridium is expected to close on September 29, 2009, subject to the satisfaction of customary closing conditions.  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.

GHL Acquisition also announced its offering of 16,000,000 newly issued shares of its common stock was priced at $10.00 per share.  In addition, GHL Acquisition has granted the underwriters a 40-day option to purchase up to an additional 2,400,000 shares to cover over-allotments, if any.  The offering is expected to close on September 29, 2009, subject to the satisfaction of customary closing conditions and the closing of the acquisition by GHL Acquisition of Iridium Holdings LLC. Raymond James and Associates, Inc. is acting as bookrunning manager, RBC Capital Markets Corporation is acting as co-lead manager and Stifel, Nicolaus & Company, Incorporated is acting as co-manager for the offering.