On August 18, Avanti Communications Group plc (Avanti), a leading provider of satellite data communications services, closed an add-on offering of 10% senior secured notes due 2019 to raise about $125m, which, according to the company, is sufficient to fund fully its HYLAS 4 satellite project. MAST Capital Management, LLC (MAST) of Boston led and managed the investor group. Also on August 18, Avanti announced an equity capital raising to satisfy conditions of the investors in the 10% senior secured notes. Avanti issued approximately 3.5m new shares, representing a 2.47% equity stake in the company, at a 4% discount relative to the market price to raise an additional $11.3m in net proceeds. Press reports indicate that MAST requested and purchased the new equity. Currently being manufactured by Orbital ATK Inc. based on the GEOStar-3 satellite platform, HYLAS 4 will provide Ka-band broadband services using 66 fixed beams with coverage of Africa and Europe and four steerable beams that can serve Africa or Latin America. The satellite is scheduled for launch by Arianespace S.A. on an Ariane 5 launch vehicle in early 2017.