SPAC investors can learn from Iridium’s 30-year overnight success ...Middle East

More than a decade before today’s surge of space SPACs, one satellite company proved that a merger with a blank check company can indeed succeed.That firm is Iridium, the satellite telecom valued at more than $5 billion. In 2020, its revenue grew to a record $583 million, and the company announced its first stock buyback plan. It’s been a lot of work to get there—and the circumstances might provide a word of warning to investors in today’s blank-check space acquisitions.Iridium emerged from its turn-of-the-century bankruptcy as a private company, after the tech bubble popped and investors soured on satellite businesses. In early 2008, CEO Matt Desch knew the company needed between $1 billion

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