trending Market Intelligence /marketintelligence/en/news-insights/trending/d0p-Yx6xTYdzTq3NhudwfQ2 content esgSubNav
In This List

Globalstar offering $125M of voting common stock

Blog

Live TV still dominates most TV viewing in Asia

Blog

Netflix amortized content spend estimated at $13.6 billion in 2021

Blog

Credit Risk Trends for Telecom & Tech: A Mid-Year 2021 Outlook

Blog

Summer box office rebounds in 2021


Globalstar offering $125M of voting common stock

Globalstar Inc. launched an offering of $125 million in shares of voting common stock.

The company also plans to grant the underwriters a 30-day option to buy up to about $18.8 million in additional shares of voting common stock.

The company said Oct. 4 that the offering will satisfy a requirement relating to the June 2017 credit agreement amendment. Globalstar intends to deposit 80% of the net proceeds from the offering in a restricted account for the benefit of the lenders under the facility agreement. The proceeds held in the restricted account are expected to be drawn to pay principal and interest due under the facility agreement in December 2017 and June 2018.

Globalstar expects to use the remaining proceeds for general corporate purposes.

Morgan Stanley is acting as the sole book-running manager for the offering, the expiration date of which was not disclosed.