Globalstar, Inc. reports developments in satellite and terrestrial connectivity, including mobile satellite services, low Earth orbit satellite infrastructure, licensed Band 53/n53 spectrum and private wireless technology. Its recurring news themes include XCOM RAN private 5G deployments, IoT and direct-to-device connectivity, ground-station expansion, spectrum-enabled partnerships, government and defense collaborations, and operating results.
The company serves business, enterprise, consumer and governmental markets with voice, data, asset-tracking, safety and personal communications services. Updates also cover satellite network upgrades, product modules, ecosystem partners and material corporate actions tied to its communications infrastructure and capital structure.
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Globalstar, Inc. (NYSE: GSAT) announced a purchase agreement to issue $200 million in 13% Senior Notes due 2029, aimed at strengthening its balance sheet. Closing is anticipated around March 31, 2023. Proceeds will primarily cover $148 million under its 2019 facility agreement, with the remainder for general corporate purposes. CFO Rebecca Clary emphasized the financing's role in bolstering their position amid tough capital markets. CEO Dave Kagan highlighted a focus on wholesale revenue, expanding IoT services, legacy business, and spectrum monetization opportunities.
Globalstar, Inc. (NYSE American: GSAT) has received authorization from the Kingdom of Thailand's National Broadcasting and Telecommunications Commission (NBTC) to provide mobile satellite services across Thailand. This includes the operation of a new ground station located at Thaicom’s Teleport Center in Patumthani province, just north of Bangkok. Globalstar is the first and only Low Earth Orbit (LEO) satellite constellation permitted to operate in Thailand. This partnership with Thaicom is expected to enhance satellite service offerings, including critical Emergency SOS communications, and foster long-term growth and collaboration in the satellite industry.