Summary
Globalstar, Inc. (GSAT) has announced its intention to voluntarily delist its common stock from the NYSE American and transfer its listing to the Nasdaq Global Select Market. This move is being executed in conjunction with its previously announced reverse stock split. The company expects its last day of trading on the NYSE American to be around February 10, 2025, with trading on Nasdaq commencing on or around February 11, 2025, under the same ticker symbol 'GSAT'. This strategic shift is often undertaken to meet exchange listing standards, improve trading liquidity, or leverage the benefits associated with a particular exchange. Investors should monitor the success of the reverse stock split and the transition to Nasdaq, as these events could impact stock performance and accessibility.
Key Highlights
- 1Globalstar to voluntarily delist from NYSE American.
- 2Common stock to transfer listing to Nasdaq Global Select Market.
- 3Delisting and transfer are contingent on the completion of a previously disclosed reverse stock split.
- 4Expected last trading day on NYSE American is around February 10, 2025.
- 5Expected commencement of trading on Nasdaq is around February 11, 2025.
- 6The company's ticker symbol 'GSAT' will remain unchanged on Nasdaq.
- 7A press release announcing these changes is attached as an exhibit to the filing.