- Speedcast has received a US$395 million equity commitment from Centrebridge Partners and one of its affiliates
- Speedcast provides remote communications and IT services to more than 2000 customers in over 140 countries
- The company initiated a financial restructuring as it was clear it was facing financial peril
- The company is undergoing a reorganisation under chapter 11 of the U.S. Bankruptcy Code
- The reorganisation plan will provide for cash payments to secured claims holders
- Company shares have been in a trading halt since February this year, last trading for 79 cents
