CHICAGO, Sept. 10, 2020 /PRNewswire/ -- Gogo Inc. (NASDAQ:
GOGO) ("Gogo") today commented on the disclosure that certain
affiliates of GTCR, a leading private equity firm, have acquired a
14.8% interest in Gogo's common stock.
"We welcome GTCR's interest in Gogo and look forward to an
ongoing and constructive dialogue as we execute our strategic
plan," said Oakleigh Thorne, Gogo's
President and CEO. "We believe GTCR shares our vision for Gogo and
the opportunity to continue to create value for all
shareholders."
"We believe Gogo's decision to focus on its leading business
aviation business will create a stronger company that is
well-positioned to grow in an attractive market," said Mark Anderson, Managing Director at GTCR. "We
look forward to supporting Gogo as it completes the sale of the
commercial aviation business and seeks to capitalize on the
compelling opportunity in business aviation."
About Gogo
Gogo is the inflight internet company. We are the leading
global provider of broadband connectivity products and services for
aviation. We design and source innovative network solutions that
connect aircraft to the Internet, and develop software and
platforms that enable customizable solutions for and by our
aviation partners. Once connected, we provide industry leading
reliability around the world. Our mission is to help aviation go
farther by making planes fly smarter, so our aviation partners
perform better and their passengers travel happier.
Gogo's products and services are installed on thousands of
aircraft operated by the leading global commercial airlines and
thousands of private aircraft, including those of the largest
fractional ownership operators. Gogo is headquartered in
Chicago, with additional
facilities in Broomfield, Colo.,
and locations across the globe. Connect with us at gogoair.com.
Cautionary Note Regarding Forward-Looking Statements
Certain disclosures in this press release include
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation, statements
regarding our business outlook, industry, business strategy, plans,
goals and expectations concerning our market position,
international expansion, future technologies, future operations,
margins, profitability, future efficiencies, capital expenditures,
liquidity and capital resources and other financial and operating
information. When used in this discussion, the words "anticipate,"
"assume," "believe," "budget," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict,"
"project," "should," "will," "future" and the negative of these or
similar terms and phrases are intended to identify forward-looking
statements in this press release.
Forward-looking statements reflect our current expectations
regarding future events, results or outcomes. These expectations
may or may not be realized. Although we believe the expectations
reflected in the forward-looking statements are reasonable, we can
give you no assurance these expectations will prove to have been
correct. Some of these expectations may be based upon assumptions,
data or judgments that prove to be incorrect. Actual events,
results and outcomes may differ materially from our expectations
due to a variety of known and unknown risks, uncertainties and
other factors. Although it is not possible to identify all of these
risks and factors, they include, among others, our ability to
effectively evaluate and pursue strategic opportunities.
Additional information concerning these and other factors can be
found under the caption "Risk Factors" in our annual report on Form
10-K for the year ended December 31,
2019, as filed with the Securities and Exchange Commission
("SEC") on March 13, 2020, our
quarterly report on Form 10-Q for the quarter ended March 31, 2020, as filed with the SEC on
May 11, 2020, and our quarterly
report on Form 10-Q for the quarter ended June 30, 2020, as filed with the SEC on
August 10, 2020.
Any one of these factors or a combination of these factors could
materially affect our financial condition or future results of
operations and could influence whether any forward-looking
statements contained in this report ultimately prove to be
accurate. Our forward-looking statements are not guarantees of
future performance, and you should not place undue reliance on
them. All forward-looking statements speak only as of the date made
and we undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Relations
Contact:
|
Media Relations
Contact:
|
Will
Davis
|
Bryan Locke, Andy
Duberstein and Lindsay Charles
|
+1
312-517-5725
|
Sard Verbinnen &
Co
|
ir@gogoair.com
|
Gogo-SVC@sardverb.com
|
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SOURCE Gogo