19 December 2013
Gogo Inc. (NASDAQ: GOGO) said that Ripplewood Holdings, one of Gogo´s two private equity sponsors, has distributed all 27.6m of its shares of Gogo common stock to its funds´ limited partners.
Following the distribution, Oakleigh Thorne and entities affiliated with Thorne will continue to own approximately 29% of outstanding Gogo common shares.
Simultaneous with the share distribution, three Ripplewood directors resigned from the Gogo board. The resigning directors are Timothy C. Collins, Lawrence Lavine and Christopher Minnetian. These resignations reduce the number of directors on the board to eight, and the Gogo nominating and corporate governance committee intends to promptly consider whether to fill any or all of these newly created vacancies.
Gogo is a leader of in-flight connectivity and wireless in-flight digital entertainment solutions. Using Gogo´s exclusive products and services, passengers with Wi-Fi enabled devices can get online on more than 2,000 Gogo equipped commercial aircraft. In-flight connectivity partners include American Airlines, Air Canada, AirTran Airways, Alaska Airlines, Delta Air Lines, Frontier Airlines, Japan Airlines, United Airlines, US Airways and Virgin America. Connect with Gogo at www.gogoair.com, on Facebook at www.facebook.com/gogo and on Twitter at www.twitter.com/gogo.