December 19, 2018
Globalstar, Inc. (“Globalstar”) (NYSE American: GSAT), a leading provider of mobile satellite voice and data services to businesses, governments, and individuals, today announced the pricing of a registered underwritten public offering of 171,428,571 shares of its voting common stock at a price to the public of $0.35 per share, before underwriting discounts and commissions. The gross proceeds to Globalstar from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Globalstar, are expected to be approximately $60 million. The offering is expected to close on December 21, 2018, subject to customary closing conditions. Additionally, Globalstar granted the underwriter a 30-day option to purchase up to an additional 25,714,285 shares of voting common stock at the public offering price, less underwriting discounts and commissions. All of the shares of voting common stock in the offering will be sold by Globalstar.
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