<SEC-DOCUMENT>0000950170-25-077243.txt : 20250523
<SEC-HEADER>0000950170-25-077243.hdr.sgml : 20250523
<ACCEPTANCE-DATETIME>20250523192026
ACCESSION NUMBER:		0000950170-25-077243
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250523
DATE AS OF CHANGE:		20250523

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIASAT INC
		CENTRAL INDEX KEY:			0000797721
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				330174996
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-49903
		FILM NUMBER:		25983858

	BUSINESS ADDRESS:	
		STREET 1:		6155 EL CAMINO REAL
		CITY:			CARLSBAD
		STATE:			CA
		ZIP:			92009
		BUSINESS PHONE:		760-476-2200

	MAIL ADDRESS:	
		STREET 1:		6155 EL CAMINO REAL
		CITY:			CARLSBAD
		STATE:			CA
		ZIP:			92009

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRITON LUXTOPHOLDING SARL
		CENTRAL INDEX KEY:			0001980512
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			N4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		1-3 BOULEVARD DE LA FOIRE
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-1528
		BUSINESS PHONE:		207-872-6310

	MAIL ADDRESS:	
		STREET 1:		1-3 BOULEVARD DE LA FOIRE
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-1528

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRITON LUXTOPHOLDING S.A.R.L.
		DATE OF NAME CHANGE:	20230607
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001980512</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
      <dateOfEvent>05/21/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0000797721</issuerCIK>
        <issuerCUSIP>92552V100</issuerCUSIP>
        <issuerName>VIASAT, INC.</issuerName>
        <address>
          <street1 xmlns="http://www.sec.gov/edgar/common">6155 El Camino Real</street1>
          <city xmlns="http://www.sec.gov/edgar/common">Carlsbad</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">CA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">92009</zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Maxime Donneau, Triton LuxTop</personName>
          <personPhoneNum>352 26 86 87 30</personPhoneNum>
          <personAddress>
            <street1 xmlns="http://www.sec.gov/edgar/common">1-3 Boulevard de la Foire</street1>
            <city xmlns="http://www.sec.gov/edgar/common">Luxembourg</city>
            <stateOrCountry xmlns="http://www.sec.gov/edgar/common">N4</stateOrCountry>
            <zipCode xmlns="http://www.sec.gov/edgar/common">L-1528</zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001980512</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Triton LuxTopHolding SARL</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>4795334</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>4795334</sharedDispositivePower>
        <aggregateAmountOwned>4795334</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>3.68</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>
Calculated based on 130,319,585 shares of Common Stock outstanding as of May 9, 2025, as disclosed by Viasat, Inc. (the "Issuer") to the Reporting Persons.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001861008</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Apax IX GP Co. Limited</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>Y7</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>4795334</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>4795334</sharedDispositivePower>
        <aggregateAmountOwned>4795334</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>3.68</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>
Calculated based on 130,319,585 shares of Common Stock outstanding as of May 9, 2025, as disclosed by the Issuer to the Reporting Persons.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, par value $0.0001 per share</securityTitle>
        <issuerName>VIASAT, INC.</issuerName>
        <issuerPrincipalAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">6155 El Camino Real</street1>
          <city xmlns="http://www.sec.gov/edgar/common">Carlsbad</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">CA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">92009</zipCode>
        </issuerPrincipalAddress>
        <commentText>
This Amendment No. 3 (this "Statement") amends and supplements the Schedule 13D, originally filed on June 9, 2023, as amended (the "Schedule 13D") relating to the Common Stock of the Issuer. Except as set forth herein, the Schedule 13D remains in full force and effect. Each capitalized term used but not defined herein has the meaning ascribed to such term in the Schedule 13D.</commentText>
      </item1>
      <item4>
        <transactionPurpose>On May 21, 2025, Triton LuxTopHolding SARL (the "Apax Investor"), CPP Investment Board Private Holdings (4) Inc. (the "CPPIB Investor"), Ontario Teachers' Pension Plan Board (the "OTPP Investor") and WP Triton Co-Invest, L.P. (the "WP Investor" and, together with the Apax Investor, the CPPIB Investor and the OTPP Investor, the "Investors") and the Issuer terminated that certain Stockholders Agreement, dated November 8, 2021, by and among the Investors and the Issuer (the "Old Stockholders Agreement") and the Apax Investor entered into a new Stockholder Agreement by and between the Apax Investor and the Issuer (the "New Stockholder Agreement"). The New Stockholder Agreement imposes certain transfer restrictions with respect to the shares of Common Stock held by the Apax Investor, including a prohibition on transfers to competitors of the Issuer and certain other parties for so long as the Apax Investor owns at least 1% of the total outstanding shares of Common Stock, as well as customary standstill limitations. The New Stockholder Agreement also requires the Apax Investor to vote all of its shares of Common Stock in favor the Issuer's director nominees and with respect to any other matter, in accordance with the recommendation of the board of directors of the Issuer or any applicable committee thereof, subject to certain exceptions, for so long as the Apax Investor owns at least 1% of the total outstanding shares of Common Stock. In addition, on May 21, 2025, the Investors agreed to terminate that certain Coordination Agreement, dated November 8, 2021, by and among the Investors (the "Coordination Agreement").

After giving effect to the termination of the Coordination Agreement and the Old Stockholders Agreement, the Investors no longer act as or otherwise constitute a "group" within the meaning of Section 13(d) of the Securities Exchange Act of 1934.

The foregoing description of the New Stockholder Agreement is not complete and is qualified in its entirety by the full text of the New Stockholder Agreement, which is included as Exhibit 99.1 hereto and is incorporated herein by reference.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>The responses to Item 11 and Item 13 on each of the cover pages of this Statement are incorporated herein by reference.</percentageOfClassSecurities>
        <numberOfShares>The responses to Items 7-10 on each of the cover pages of this Statement are incorporated herein by reference.

The Apax Investor directly holds 4,795,334 shares of Common Stock. The shareholders of the Apax Investor are Triton Lux EquityCo SARL and Connect Syndication L.P. Apax IX, in its capacity as ultimate general partner of each of Apax IX EUR L.P., Apax IX EUR Co-Investment L.P., Apax IX USD L.P. and Apax IX USD Co-Investment L.P. (together the "Apax IX Fund"), is the sole shareholder of Triton Lux EquityCo SARL. Apax IX is also the sole shareholder of Connect Syndication GP Co. Limited, the General Partner of Connect Syndication L.P. Apax IX is the investment manager of the Apax IX Fund and is controlled by a board of directors consisting of Elizabeth Burne, Simon Cresswell, Andrew Guille, Martin Halusa, Paul Meader and Jeremy Latham. </numberOfShares>
        <transactionDesc>The information set forth in Item 4 above is incorporated by reference into this Item 5(c).</transactionDesc>
        <date5PercentOwnership>On May 21, 2025, the Reporting Persons ceased to be part of a group that beneficially owns 5% of the outstanding Common Stock.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>The information set forth in Item 5 of this Statement is herein incorporated to the Schedule 13D.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Exhibit 99.1 Stockholder Agreement, dated May 21, 2025, by and between Viasat, Inc. and Triton LuxTopHolding SARL (incorporated by reference to Exhibit 10.1 of the Issuer's Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 22, 2025).  </filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Triton LuxTopHolding SARL</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/Julie Outouchent, /s/ Laurent Thailly</signature>
          <title>Julie Outouchent / Class A Manager, Laurent Thailly / Class B Manager</title>
          <date>05/23/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Apax IX GP Co. Limited</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/Jeremy Latham</signature>
          <title>Jeremy Latham / Director</title>
          <date>05/23/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
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</DOCUMENT>
</SEC-DOCUMENT>
