April 2, 2010 (FinancialWire) — ViaSat Inc. (NASDAQ: VSAT) said it has closed an underwritten public offering of common stock. The size of the offering had been increased from a previously reported 5.5 million shares of common stock to six million shares at a public offering price of $33.50 per share.

In addition, the underwriters exercised their over-allotment option to purchase an additional 446,689 shares from ViaSat and an additional 453,311 shares from certain selling stockholders. After giving effect to the upsizing of the offering and the exercise of the over-allotment option, the public offering consisted of 6.9 million shares, comprising 3,173,962 shares sold by ViaSat and 3,726,038 shares sold by the selling stockholders.

ViaSat said it plans to use the net proceeds it received from the offering, which it estimates to be around $100.5 million, for general corporate purposes, which may include working capital, capital expenditures, financing costs related to the purchase, launch and operation of its ViaSat-1 satellite or any future satellite, or other potential acquisitions.

The company said it may use all or a portion of the net proceeds to repay outstanding borrowings under its revolving credit facility. ViaSat did not receive any proceeds from the sale of shares by the selling stockholders.

California-based ViaSat produces satellite and other digital communication products.

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