Motient Acquires Additional Interests in MSV

LINCOLNSHIRE, Ill., Feb. 10/Satnews Daily/ —  Motient Corp. (Pink Sheets:MNCP) announced on Wednesday its purchase of an additional 3,563,933 Mobile Satellite Ventures limited partnership units resulting in Motient’s increase ownership position in MSV to about 49 percent.

Motient said it had recently closed a series of transactions with Telcom Satellite Ventures, Columbia Space Partners and Spectrum Space Equity Investors, resulting in Motient's purchase of an additional 3,563,933 Mobile Satellite Ventures limited partnership units. In exchange, Motient issued 12,704,782 shares of Motient common stock.

Motient said it directly acquired the 2,296,835 MSV limited partnership units held by Telcom. In exchange, Motient issued 8,187,804 shares of its common stock to the owners of Telcom in a private placement.

According to Motient, it also indirectly acquired another 1,267,098 limited partnership units through a series of transactions with Spectrum Space Equity Investors IV, Inc. and Columbia Space Partners, Inc. Motient said it issued to Spectrum and Columbia a total of 4,516,978 shares of Motient common stock in consideration for an approximately 62.3 percent interest in Spectrum Space Equity Investors IV, Inc. and two other related entities, and an approximately 27.8 percent interest in Columbia Space Partners, Inc. and two other related entities.

Recent Story:

Motient to Purchase Additional Interests in Mobile Satellite Ventures