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Asset/Investment Management
mhrfund.com

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Investments

5

Portfolio Exits

3

Funds

5

About MHR Fund Management

MHR Fund Management manages in excess of $5 billion and takes a highly differentiated, control-focused, private equity approach to investing in distressed and undervalued middle-market companies utilizing its proprietary approach to sourcing. MHR is an active investor that seeks to exert control or significant influence on its portfolio companies, which the Firm believes is essential to preserving and creating value.

MHR Fund Management Headquarter Location

1345 Avenue of the Americas 42nd Floor

New York, New York, 10105,

United States

212-262-0005

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Latest MHR Fund Management News

MHR Fund Management Reports Ownership Interest in Telesat

Nov 23, 2021

Author of the article: NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. NEW YORK, Nov. 22, 2021 (GLOBE NEWSWIRE) — MHR Fund Management LLC (“ MHR ”) announced today that it has acquired control over 18,035,092 Class B units (“ Class B Units ”) of Telesat Partnership LP (the “ Partnership ”) in exchange for the 18,035,092 shares of Loral Space & Communications Inc. (“ Loral ”) common stock over which it previously exercised control. In addition, Mark H. Rachesky, M.D., the founder and President of MHR, acquired ownership of 15,000 Class B Units and 46,136 Class B variable voting shares (“ Class B Shares ”) of Telesat Corporation (the “ Company ”) in exchange for securities of Loral previously held by him. We apologize, but this video has failed to load. Try refreshing your browser, or Advertisement Article content On November 19, 2021, the Company announced the closing of the previously announced transaction (the “ Transaction ”) with Loral and Public Sector Pension Investment Board, in which Loral’s stockholders and Telesat Canada’s other equityholders exchanged their interests for equity in the Company’s new public holding structure. In the Transaction, each share of Loral common stock was converted into the right to receive either one share of the Company or one unit of the Partnership. Prior to the closing of the Transaction, neither MHR nor Dr. Rachesky owned any securities of the Company or the Partnership. Immediately following the closing of the Transaction, (i) MHR exercised control over 18,035,092 Class B Units, representing approximately 92.9% of the outstanding Class B Units (representing approximately 36.4% of the Class A common shares, Class B Shares, Class C fully voting common shares and Class C limited voting common shares of the Company (collectively, “ Telesat Shares ”) on a fully exchanged and converted basis),, and (ii) Dr. Rachesky owned 15,000 Class B Units, representing approximately 0.1% of the outstanding Class B Units and 46,136 Class B Shares, representing approximately 0.9% of the outstanding Class B Shares, and together representing approximately 0.1% of the outstanding Telesat Shares on a fully exchanged and converted basis. Advertisement Article content The securities described in this press release were acquired upon the consummation of the Transaction. MHR plans to review its holdings in the Company and the Partnership on a continuing basis and as part of this ongoing review, plans to evaluate various alternatives that are or may become available with respect to the Company, the Partnership and their respective securities. MHR may from time to time and at any time, in its sole discretion, acquire or cause to be acquired, additional equity or debt securities or other instruments of the Company, the Partnership or their respective subsidiaries or affiliates, or dispose or cause to be disposed, such equity or debt securities or instruments, or enter into derivative or other transactions with respect to such equity or debt securities or instruments, in any amount that MHR may determine in its sole discretion, through open market transactions, privately negotiated transactions or otherwise. Following the six (6) month anniversary of the closing of the Transaction, the holders of Class B Units may from time to time and at any time in their sole discretion, convert any or all of their Class B Units into Class B Shares. Such transactions may depend upon a variety of factors, including, without limitation, trading prices and liquidity of the securities in question, the financial condition, results of operations and prospects of the Company and any of its subsidiaries or affiliates, other investment opportunities, trading policies and liquidity of MHR and general economic, financial, market and industry conditions or other factors. Advertisement Article content A report on Form 62-103F1 – Required Disclosure under the Early Warning Requirements under section 3.1 of National Instrument 62-103 is being filed by MHR in accordance with applicable Canadian securities laws and will be available under the profile of each of the Company and the Partnership at http://www.sedar.com . The head office of each of the Company and the Partnership is located at 160 Elgin Street, Ottawa, Ontario K2P 2P7, Canada. MHR’s address is 1345 Avenue of the Americas, 42nd Floor, New York, New York 10105, USA. FOR MORE INFORMATION For further information or to receive a copy of the report filed in connection with this press release, please see Telesat’s profile on the SEDAR website (http://www.sedar.com) or contact Charles Zehren at 212-843-8590 or czehren@rubenstein.com. Share this article in your social network Share this Story: MHR Fund Management Reports Ownership Interest in Telesat

MHR Fund Management Investments

5 Investments

MHR Fund Management has made 5 investments. Their latest investment was in Lionsgate as part of their PIPE on October 10, 2019.

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MHR Fund Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/3/2019

PIPE

Lionsgate

$22.05M

Yes

6

3/20/2007

Private Equity - II

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$99M

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0

11/7/2005

Unattributed VC - III

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$99M

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0

8/5/2005

Unattributed VC

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$99M

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0

6/8/1999

Unattributed

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$99M

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0

Date

10/3/2019

3/20/2007

11/7/2005

8/5/2005

6/8/1999

Round

PIPE

Private Equity - II

Unattributed VC - III

Unattributed VC

Unattributed

Company

Lionsgate

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Amount

$22.05M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

6

0

0

0

0

MHR Fund Management Portfolio Exits

3 Portfolio Exits

MHR Fund Management has 3 portfolio exits. Their latest portfolio exit was Javelin Pharmaceuticals on April 19, 2010.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/19/2010

Merger

1

9/18/2008

Asset Sale

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$99M

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10

4/17/2006

IPO

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0

Date

4/19/2010

9/18/2008

4/17/2006

Exit

Merger

Asset Sale

IPO

Companies

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Valuation

$99M

Acquirer

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Sources

1

10

0

MHR Fund Management Fund History

5 Fund Histories

MHR Fund Management has 5 funds, including MHR Institutional Partners IV LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/28/2016

MHR Institutional Partners IV LP

Restructuring/Distressed Debt

Open

$1,600M

1

10/12/2007

MHR Institutional Partners III LP

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$99M

10

12/31/2002

MHR Institutional Partners II LP

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$99M

10

12/31/1998

MHR Institutional Partners I LP

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$99M

10

MHR Institutional Partners IV fund

$99M

10

Closing Date

4/28/2016

10/12/2007

12/31/2002

12/31/1998

Fund

MHR Institutional Partners IV LP

MHR Institutional Partners III LP

MHR Institutional Partners II LP

MHR Institutional Partners I LP

MHR Institutional Partners IV fund

Fund Type

Restructuring/Distressed Debt

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Status

Open

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Amount

$1,600M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

MHR Fund Management Team

1 Team Member

MHR Fund Management has 1 team member, including former Managing Principal, Sai Devabhaktuni.

Name

Work History

Title

Status

Sai Devabhaktuni

Managing Principal

Former

Name

Sai Devabhaktuni

Work History

Title

Managing Principal

Status

Former

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