Filing Details

Accession Number:
0001193125-21-341091
Form Type:
13D Filing
Publication Date:
2021-11-25 19:00:00
Filed By:
Baralonco Ltd
Company:
Iridium Communications Inc. (NASDAQ:IRDM)
Filing Date:
2021-11-26
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Baralonco Limited 0 11,724,230 0 11,724,230 11,724,230 8.9%
Estate of the late Khalid bin Abdullah bin Abdulrahman 0 11,724,230 0 11,724,230 11,724,230 8.9%
Fahd bin Khalid bin Abdullah bin Abdulrahman 0 11,724,230 0 11,724,230 11,724,230 8.9%
Filing

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 5)

 

 

Iridium Communications, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

46269C102

(CUSIP Number)

Larry G. Franceski, Esq.

Norton Rose Fulbright US LLP

799 9th Street NW

Suite 1000

Washington, DC 20001-4501

(202) 662-4518

with

a copy to:

Mara H. Rogers, Esq.

Norton Rose Fulbright US LLP

1301 Avenue of the Americas

New York, NY 10019-6022

(212) 318-3206

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

November 24, 2021

(Date of Event which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of this Schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent.

 

 

 

*

The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (the Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 

 

 


CUSIP No. 46269C102    Page 2 of 7 Pages

 

  1    

  NAMES OF REPORTING PERSONS

  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

  Baralonco Limited

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS

 

  Not applicable

  5  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  British Virgin Islands

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  -0-

     8   

  SHARED VOTING POWER

 

  11,724,230

     9   

  SOLE DISPOSITIVE POWER

 

  -0-

   10   

  SHARED DISPOSITIVE POWER

 

  11,724,230

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  11,724,230

12  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.9%*

14  

  TYPE OF REPORTING PERSON

 

  CO

 

*

Based on 132,202,392 shares of Common Stock outstanding on October 14, 2021, as reported in the Issuers Quarterly Report on Form 10-Q for the period ended September 30, 2021 filed with the Securities and Exchange Commission on October 19, 2021.


CUSIP No. 46269C102    Page 3 of 7 Pages

 

  1    

  NAMES OF REPORTING PERSONS

  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

  Estate of the late Khalid bin Abdullah bin Abdulrahman

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS

 

  Not applicable

  5  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Kingdom of Saudi Arabia

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  -0-

     8   

  SHARED VOTING POWER

 

  11,724,230

     9   

  SOLE DISPOSITIVE POWER

 

  -0-

   10   

  SHARED DISPOSITIVE POWER

 

  11,724,230

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  11,724,230

12  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.9%*

14  

  TYPE OF REPORTING PERSON

 

  OO

 

*

Based on 132,202,392 shares of Common Stock outstanding on October 14, 2021, as reported in the Issuers Quarterly Report on Form 10-Q for the period ended September 30, 2021 filed with the Securities and Exchange Commission on October 19, 2021.


CUSIP No. 46269C102    Page 4 of 7 Pages

 

  1    

  NAMES OF REPORTING PERSONS

  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

  Fahd bin Khalid bin Abdullah bin Abdulrahman

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS

 

  Not applicable

  5  

  CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Kingdom of Saudi Arabia

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  -0-

     8   

  SHARED VOTING POWER

 

  11,724,230

     9   

  SOLE DISPOSITIVE POWER

 

  -0-

   10   

  SHARED DISPOSITIVE POWER

 

  11,724,230

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  11,724,230

12  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  8.9%*

14  

  TYPE OF REPORTING PERSON

 

  IN

 

*

Based on 132,202,392 shares of Common Stock outstanding on October 14, 2021, as reported in the Issuers Quarterly Report on Form 10-Q for the period ended September 30, 2021 filed with the Securities and Exchange Commission on October 19, 2021.


Page 5 of 7 Pages

 

Explanatory Note

This Amendment No. 5 to Schedule 13D (this Amendment No. 5) relates to the common stock, par value $0.001 per share (the Common Stock), of Iridium Communications, Inc., a Delaware corporation (the Issuer). This Amendment No. 5 supplements and amends the statement on Schedule 13D initially filed with the Securities and Exchange Commission (the SEC) on October 8, 2009 by (i) Baralonco Limited, a British Virgin Islands company (the Company) and (ii) Khalid bin Abdullah bin Abdulrahman, as amended by Amendment No. 1 to Schedule 13D filed with the SEC on October 9, 2012, Amendment No. 2 to Schedule 13D filed with the SEC on June 3, 2014, Amendment No. 3 to Schedule 13D filed with the SEC on May 17, 2019 and Amendment No. 4 to Schedule 13D filed with the SEC on August 26, 2021 (collectively, the Amended Schedule 13D).

This Amendment No. 5 is being filed to report a decrease in the percentage of shares of Common Stock beneficially owned by the Reporting Persons (as defined below) resulting from open market sales of Common Stock by the Company. Except as supplemented and amended herein, the Amended Schedule 13D is unchanged. Reference should be made to the Amended Schedule 13D for additional information.

 

Item 2.

Identity and Background.

This Amendment No. 5 is being filed by Baralonco Limited (the Company), organized under the laws of the British Virgin Islands, with its principal executive offices located at Craigmuir Chambers, P.O. Box 71, Road Town, Tortola, British Virgin Islands VG1110. The principal business of the Company is to hold investments. Information as to the executive officers and directors of the Company is set forth in Exhibit A to this Amendment No. 5.

This Amendment No. 5 is also being filed by the Estate of the late Khalid bin Abdullah bin Abdulrahman (the Estate), the sole owner of the Company, whose address is c/o Baralonco Limited located at Craigmuir Chambers, P.O. Box 71, Road Town, Tortola, British Virgin Islands VG1110. The Estate is currently in probate (or the equivalent proceedings under applicable local law) in Saudi Arabia. The principal business activity of the Estate is to hold the assets of the late Khalid bin Abdullah bin Abdulrahman.

This Amendment No. 5 is also being filed by Fahd bin Khalid bin Abdullah bin Abdulrahman, as a legal representative to the Estate (the Legal Representative), whose address is c/o Baralonco Limited located at Craigmuir Chambers, P.O. Box 71, Road Town, Tortola, British Virgin Islands VG1110. His present principal occupation is private investments. The Legal Representative is a resident and national of the Kingdom of Saudi Arabia.

The Company, the Estate and the Legal Representative are referred to in this Amendment No. 5 collectively as the Reporting Persons.

During the past five years, none of the Reporting Persons nor, to the Companys knowledge, any of the persons listed in Exhibit A, has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors). During the past five years, none of the Company, the Estate or the Legal Representative nor, to the Companys knowledge, any of the persons listed in Exhibit A, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.


Page 6 of 7 Pages

 

Item 5.

Interest in Securities of the Issuer.

Section (a) of Item 5 of the Amended Schedule 13D is hereby amended and restated as follows:

The Company beneficially owns 11,724,230 shares of Common Stock, representing approximately 8.9% of the Common Stock outstanding as of October 14, 2021 (based on 132,202,392 shares reported as outstanding in the Issuers Quarterly Report on Form 10-Q for the period ended September 30, 2021 filed with the SEC on October 19, 2021), as calculated under Rule 13d-3 of the Securities and Exchange Act of 1934, as amended. As the Company is wholly owned by the Estate, the Estate may also be deemed to beneficially own the same 11,724,230 shares of Common Stock directly owned by the Company. Steven B. Pfeiffer, a director of the Company, is also a director of the Issuer and beneficially owns 109,925 shares underlying vested restricted stock units of the Issuer. Mr. Pfeiffer has sole voting and dispositive power over these shares and these shares are not included in the beneficial ownership calculation of the Reporting Persons. The Legal Representative as a legal representative to the Estate, may also be deemed to beneficially own the same 11,724,230 shares of Common Stock directly owned by the Company.

Section (c) of Item 5 of the Amended Schedule 13D is hereby supplemented as follows:

(c) Set forth on Exhibit B to this Amendment No. 5 is a list of transactions in the shares of Common Stock effected by the Reporting Persons in the past sixty days to the extent not previously reported on the Amended Schedule 13D. These transactions were all effected in the open market through brokers and the price per share excludes commissions. Except for the foregoing, none of the Reporting Persons nor, to the knowledge of the Company, any director or executive officer of the Company, has effected any transaction in the Common Stock in the 60 days prior to the filing of this Amendment No. 5.

 

Item 7.

Material to be Filed as Exhibits.

 

Exhibit A:    Information concerning the executive officers and directors of Baralonco Limited (previously filed and incorporated by reference to Exhibit A to Amendment No. 3 to Schedule 13D filed with the SEC on May 17, 2019)
Exhibit B:    Schedule of Transactions
Exhibit 1:    Filing Agreement (previously filed and incorporated by reference to Exhibit 1 to Amendment No. 4 to the Schedule 13D filed on August 26, 2021)
Exhibit 2:    Power of Attorney of Baralonco Limited (previously filed and incorporated by reference to Exhibit G to the Schedule 13D filed on October 8, 2009)
Exhibit 3:    Powers of Attorney of the Estate of the late Khalid bin Abdullah bin Abdulrahman and Fahd bin Khalid bin Abdullah bin Abdulrahman (previously filed and incorporated by reference to Exhibit 3 to Amendment No. 4 to the Schedule 13D filed on August 26, 2021)

Page 7 of 7 Pages

 

Signatures

After reasonable inquiry and to the best knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Dated: November 26, 2021

 

BARALONCO LTD
By:  

/s/ Larry G. Franceski

Name: Larry G. Franceski
Title: Attorney-in-Fact*
ESTATE OF THE LATE KHALID BIN ABDULLAH BIN ABDULRAHMAN
By:  

/s/ Larry G. Franceski

Name: Larry G. Franceski
Title: Attorney-in-Fact*
FAHD BIN KHALID BIN ABDULLAH BIN ABDULRAHMAN, as legal representative of the Estate of the late Khalid Bin Abdullah Bin Abdulrahman
By:  

/s/ Larry G. Franceski

Name: Larry G. Franceski
Title: Attorney-in-Fact*

EXHIBIT B

SCHEDULE OF TRANSACTIONS

 

Reporting Person

   Date of Transaction      Number of
Shares Sold
     Price
Per Share ($)
    Low
Price ($)
     High
Price ($)
 

Baralonco Limited

     10/20/2021        21,298        42.0660137     41.750        42.200  

Baralonco Limited

     10/20/2021        8,941        41.8299978     41.750        42.200  

Baralonco Limited

     10/20/2021        17,276        41.7532461     41.750        42.200  

Baralonco Limited

     10/20/2021        11,781        41.75       41.750        42.200  

Baralonco Limited

     10/20/2021        9,918        41.7713773     41.750        42.200  

Baralonco Limited

     10/20/2021        12,494        41.75       41.750        42.200  

Baralonco Limited

     10/20/2021        5,531        41.75       41.750        42.200  

Baralonco Limited

     10/20/2021        5,118        41.75       41.750        42.200  

Baralonco Limited

     10/21/2021        107,643        42.067646     41.200        43.240  

Baralonco Limited

     10/22/2021        50,000        41.0548222     41.000        41.350  

Baralonco Limited

     10/22/2021        50,000        40.539179     40.400        40.820  

Baralonco Limited

     10/25/2021        3,897        41.291200     40.70        41.34  

Baralonco Limited

     10/25/2021        40,000        41.013100     40.70        41.34  

Baralonco Limited

     10/26/2021        10,000        40.967400     40.63        41.20  

Baralonco Limited

     10/26/2021        309        41.200000     40.63        41.20  

Baralonco Limited

     10/27/2021        1,333        41.145400     41.10        41.265  

Baralonco Limited

     10/28/2021        44,461        40.303300     40.10        40.545  

Baralonco Limited

     10/29/2021        25,000        40.145600     40.05        40.67  

Baralonco Limited

     10/29/2021        25,000        40.396200     40.05        40.67  

Baralonco Limited

     11/01/2021        32,009        41.9000422     41.900        41.910  

Baralonco Limited

     11/01/2021        50,000        40.8538568     40.750        41.450  

Baralonco Limited

     11/01/2021        50,000        41.502538     41.500        41.600  

Baralonco Limited

     11/03/2021        11,485        42.10       42.100        42.100  

Baralonco Limited

     11/03/2021        25,000        41.6001728     41.600        41.620  

Baralonco Limited

     11/03/2021        25,000        42.10     42.100        42.100  

Baralonco Limited

     11/03/2021        25,000        42.10     42.100        42.100  

Baralonco Limited

     11/03/2021        67,991        41.48     41.480        41.480  

Baralonco Limited

     11/04/2021        13,515        42.10     42.100        42.100  

Baralonco Limited

     11/04/2021        13,454        42.4589297     42.400        42.620  

Baralonco Limited

     11/05/2021        11,546        42.5100000     42.510        42.510  

Baralonco Limited

     11/05/2021        50,000        43.4000046     43.400        43.400  

Baralonco Limited

     11/05/2021        50,000        43.4652862     43.400        43.710  

Baralonco Limited

     11/08/2021        855        43.40     43.400        43.400  

Baralonco Limited

     11/08/2021        50,000        43.40     43.400        43.400  

Baralonco Limited

     11/08/2021        25,000        43.15     43.150        43.150  

Baralonco Limited

     11/09/2021        11,116        43.3550594     43.350        43.415  

Baralonco Limited

     11/09/2021        8,390        43.50     43.500        43.500  

Baralonco Limited

     11/09/2021        24,145        43.40     43.400        43.400  

Baralonco Limited

     11/10/2021        7,178        42.6160212     42.600        42.700  

Baralonco Limited

     11/10/2021        5,494        42.7723999     42.510        43.080  

Baralonco Limited

     11/11/2021        1,344        42.8267039     42.800        42.860  

Baralonco Limited

     11/11/2021        17,822        42.6827393     42.610        42.860  

Baralonco Limited

     11/11/2021        25,000        42.673662     42.60        42.82  

Baralonco Limited

     11/15/2021        23,656        42.2054223     41.830        42.435  

Baralonco Limited

     11/15/2021        25,000        41.7883324     41.760        41.880  

Baralonco Limited

     11/16/2021        50,000        41.8879124     41.500        42.570  

Baralonco Limited

     11/16/2021        15,015        41.5587283     41.500        41.730  

Baralonco Limited

     11/17/2021        9,985        41.5000000     41.500        41.500  

Baralonco Limited

     11/17/2021        50,000        41.5000000     41.500        41.500  

Baralonco Limited

     11/18/2021        660        41.5015152     41.500        41.510  

Baralonco Limited

     11/19/2021        24,340        40.3178661     40.200        40.495  

Baralonco Limited

     11/22/2021        25,000        38.9831107     38.610        39.630  

Baralonco Limited

     11/23/2021        25,000        38.6671288     38.230        39.205  

Baralonco Limited

     11/24/2021        25,000        38.5170784     38.320        38.740  

Baralonco Limited

     11/24/2021        50,000        39.20     39.200        39.200  

 

*

The Price Per Share reported above is a weighted average price. The shares were sold in multiple transactions at a range of prices as reflected in the table above. Upon request, the Reporting Persons undertake to provide the staff of the SEC full information regarding the shares sold at each separate price within the ranges set forth above.