Summary
Globalstar, Inc. (GSAT) announced on September 26, 2011, an extension of the deadline for investors to purchase up to $12 million in additional 5.0% Convertible Senior Unsecured Notes and associated warrants. The original deadline was extended to October 17, 2011. This extension was agreed upon with the current holders of these notes and warrants, indicating ongoing engagement and potential for additional capital infusion from existing investors. The terms of the notes and warrants remain unchanged, offering investors continued access to a convertible instrument with an attractive coupon rate and equity participation through warrants.
Key Highlights
- 1Globalstar extended the purchase right for $12 million in convertible notes and warrants to October 17, 2011.
- 2The extension was agreed upon with existing investors of the 5.0% Convertible Senior Unsecured Notes and related warrants/guaranty.
- 3The terms of the convertible notes and warrants remain the same.
- 4This filing is a Regulation FD disclosure, ensuring information is made available to all investors simultaneously.
- 5The extension provides flexibility for both Globalstar and its investors to finalize the transaction.
- 6The potential for additional capital raises is a key takeaway for investors.