GHL Acquisition Corp. And Iridium Holdings LLC Announce Amendment To Transaction Agreement

28-Apr-09

NEW YORK, NY and BETHESDA, MD, April 28, 2009 – GHL Acquisition Corp. [NYX: GHQ] (“GHL Acquisition”) and Iridium Holdings LLC (“Iridium” or the “Company”), a leading provider of voice and data mobile satellite services, today jointly announced the signing of an amendment to the definitive agreement under which they plan to combine. Under the terms of the amendment, the aggregate consideration payable by GHL Acquisition to Iridium’s existing shareholders will be reduced by 15%, a reflection of the changes in market valuation levels since the transaction was announced in September 2008.