Globalstar, Inc. (NYSE American: GSAT) today announced its financial results for the quarter ended March 31, 2018. Jay Monroe, Chairman and Chief Executive Officer of Globalstar, commented, “In late April, after our quarter ended, we announced a transformative transaction to merge Globalstar with FiberLight and almost $400 million of other assets to create a diversified telecom company with assets spanning satellite, spectrum and fiber. We expect that the combined company will have a fortified balance sheet, generate significant cash flow and will be well positioned for the evolution of next-generation networks. We look forward to closing the transaction in the third quarter."
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