Press Releases

GLOBALSTAR, INC. ANNOUNCES CLOSING OF PUBLIC OFFERING OF VOTING COMMON STOCK

December 21, 2018

Covington, LA, December 21, 2018 - Globalstar, Inc. (“Globalstar”) (NYSE American: GSAT), a leading provider of mobile satellite voice and data services to businesses, governments, and individuals, today announced that it has completed the sale of its previously announced public offering of 171,428,571 shares of its voting common stock. The aggregate net proceeds to Globalstar from the offering are approximately $58.9 million, after deducting underwriting discounts and commissions and other expenses.

 
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GLOBALSTAR, INC. ANNOUNCES PRICING OF PUBLIC OFFERING OF VOTING COMMON STOCK

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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GLOBALSTAR, INC. ANNOUNCES PROPOSED PUBLIC OFFERING OF $60 MILLION IN SHARES OF VOTING COMMON STOCK

December 18, 2018

Globalstar, Inc. (“Globalstar”) (NYSE American: GSAT), a leading provider of mobile satellite voice and data services to businesses, governments, and individuals, today announced that it has commenced an offer of $60 million in shares of voting common stock in a registered underwritten public offering. The offering will be subject to market and other conditions. In addition, Globalstar intends to grant the underwriter a 30-day option to purchase up to $9 million in additional shares of voting common stock. 
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GLOBALSTAR ANNOUNCES 3GPP APPROVAL OF BAND 53 FOR 2.4 GHz TERRESTRIAL SPECTRUM

December 17, 2018

Globalstar, Inc. (NYSE American: GSAT) (“Globalstar” or the “Company”), announced that the Third Generation Partnership Project (“3GPP”) has approved a global standard for terrestrial use of Globalstar’s spectrum at 2483.5-2495 MHz. 
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GLOBALSTAR, MUDRICK CAPITAL MANAGEMENT AND WARLANDER ASSET MANAGEMENT ANNOUNCE SETTLEMENT OF LITIGATION

December 17, 2018

Globalstar, Inc. (NYSE American: GSAT) (“the Company”), together with Mudrick Capital Management, L.P. (“Mudrick Capital”) and Warlander Asset Management, LP (“Warlander”) and all other litigation parties are pleased to announce that the parties have entered into a Settlement Agreement related to the litigation brought by Mudrick Capital and Warlander in Delaware Chancery Court involving Globalstar and certain of its directors, officers and employees.

  
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SPOT SATELLITE GPS MESSAGING DEVICES SURPASS BILLION MESSAGES TRANSMITTED, 6,100 RESCUES WORLDWIDE

November 20, 2018

SPOT, LLC, a wholly owned subsidiary of Globalstar, Inc. (NYSE American: GSAT) and a leading provider of satellite messaging and emergency notification technologies, today announced that SPOT has reached a new milestone, surpassing one billion messages transmitted and more than 6,100 rescue incidents initiated worldwide. 
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GLOBALSTAR ANNOUNCES THIRD QUARTER 2018 RESULTS

November 1, 2018

Globalstar, Inc. (NYSE American: GSAT) today announced its financial results for the quarter ended September 30, 2018. Jay Monroe, Executive Chairman of Globalstar's Board of Directors, commented, “Last month, we were thrilled to announce the promotion of Dave Kagan to Chief Executive Officer. Dave has had an extraordinary career in the satellite industry and this success has continued during in his short time at Globalstar
  
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GLOBALSTAR, INC. EARNINGS CALL RELEASE NOTICE

October 26, 2018

Globalstar, Inc. (NYSE American: GSAT) will announce its third quarter 2018 financial results on Thursday, November 1, 2018 after the market closes. The Company will conduct a conference call that evening at 5:00 p.m. Eastern Time to discuss these financial results. 
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GLOBALSTAR ANNOUNCES APPOINTMENT OF DAVE KAGAN TO CEO

September 4, 2018

Globalstar today announced the promotions of Dave Kagan to the position of CEO and Jay Monroe to Executive Chairman of the Board of Directors. In keeping with the strategy the Company previously disclosed in connection with the intended merger, the promotions separate management of Globalstar’s satellite operations and spectrum-related activities, with responsibility for all satellite operations under the CEO. 
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GLOBALSTAR ANNOUNCES SECOND QUARTER 2018 RESULTS

August 2, 2018

Globalstar, Inc. (NYSE American: GSAT) today announced its financial results for the quarter ended June 30, 2018. Jay Monroe, Chairman and Chief Executive Officer of Globalstar, commented, “As disclosed yesterday, Globalstar, following the unanimous recommendation of its Special Committee of independent directors, and Thermo terminated the proposed merger agreement by mutual written agreement. While I believe that this merger would have positioned Globalstar more strongly for the future, this transaction is no longer the path forward. Instead, we will continue to run the satellite business on a standalone basis. While we remain focused on Globalstar's satellite business and spectrum, if the opportunity to strengthen the Company and enhance shareholder value through a strategic transaction arises, we will consider it." 
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