Sirius Satellite Radio (Now, Sirius-XM Radio)
As financial advisors, RA Capital Advisors nurtured this satellite-to-car digital radio broadcast company from an early venture stage of $1 million in equity value through private financings, and initial public offering, and multiple secondary debt and equity offerings aggregating to $500 million in total financings.
Throughout the advisory engagement, RA Capital Advisors’ principals worked closely with the company’s management in formulating strategy and executing the company’s business plan, including securing one of two critical FCC licenses necessary for delivery of the service.
The company’s stock price soared to $69.44 (approximately $2.9 billion) in March of 2000, shortly after RA Capital Advisors’ involvement ended.
- Industry: Cable and Satellite
- Deal Type: Strategic Advisory, Financing
- Location: New York, NY