What is the significance of Globalstar's common stock being approved for listing on the NYSE MKT?

The listing on the NYSE MKT represents an upgrade in Globalstar's stock exchange listing. It generally signifies increased visibility, potentially improved liquidity, and adherence to the listing standards of a major exchange, which can enhance investor confidence and access to capital markets.

What does it mean that Globalstar is converting its registration from Section 12(g) to Section 12(b) of the Securities Exchange Act of 1934?

Section 12(g) applies to securities traded over-the-counter and requires certain reporting obligations. Section 12(b) registration is a prerequisite for a company to have its securities listed and traded on a national securities exchange like the NYSE MKT. This conversion signifies the company's move to a more regulated and prominent trading venue.

When can investors expect the stock to start trading on the NYSE MKT?

The company expects its voting common stock to begin trading on the NYSE MKT on or about April 21, 2014, assuming Globalstar continues to meet the exchange's listing requirements until that date.

Will the ticker symbol for Globalstar's stock change?

No, the company's voting common stock is expected to continue trading under the same ticker symbol, "GSAT", on the NYSE MKT.

GSAT 8-K SEC Disclosure

Summary

Globalstar, Inc. announced on April 9, 2014, that its common stock has been approved for listing on the NYSE MKT (a subsidiary of the New York Stock Exchange). This move signifies an upgrade from its previous registration status under Section 12(g) of the Securities Exchange Act of 1934 to Section 12(b), which is required for exchange-listed securities. The company's stock is expected to commence trading under its existing ticker symbol "GSAT" on or around April 21, 2014, provided it continues to meet the exchange's listing standards. This listing on the NYSE MKT is a significant development for Globalstar, potentially enhancing its visibility, liquidity, and access to capital markets. Investors should note that the delisting from its previous registration status implies a transition to a more regulated and scrutinized trading environment, which could be viewed positively as a step towards increased corporate governance and investor confidence. The company has filed the necessary registration statement on Form 8-A to facilitate this transition.

Key Highlights

1Globalstar, Inc. received approval to list its voting common stock on the NYSE MKT.
2The stock is expected to begin trading on the NYSE MKT around April 21, 2014.
3The ticker symbol will remain "GSAT".
4The company is transitioning the registration of its common stock from Section 12(g) to Section 12(b) of the Securities Exchange Act of 1934.
5This transition is necessary for listing on a national securities exchange.
6The filing includes an exhibit of a press release announcing the NYSE MKT approval.

Globalstar, Inc. 8-K Report, Corporate Update (Apr 9, 2014)

Summary

Key Highlights

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