01—Abstract
Summary
Summary of the 8-K filed January 21, 2025. Cited figures are marked; the original filing is the authoritative source.
Globalstar, Inc. (NYSE American: GSAT) disclosed in this 8-K, filed January 21, 2025, that it intends to voluntarily delist its common stock from the NYSE American and transfer its listing to the Nasdaq Global Select Market.
The move is tied to the company's previously disclosed plan to complete a reverse stock split of its common stock. The filing itself is procedural: it states no financial results, deal terms, or operating developments. The company's stated rationale is that the delisting and transfer, combined with the reverse split, could make the stock more attractive to a broader range of investors.
The proposed timeline is that the last day of trading on the NYSE American is expected on or around February 10, 2025, with trading on Nasdaq expected to begin on or around February 11, 2025, under the unchanged ticker "GSAT." Both steps are conditioned on completing the reverse stock split. Until the Nasdaq listing takes effect, shares will continue to trade on the NYSE American. For investors, the key takeaways are the exchange change and the reverse split's likely effect on share count and price per share, which the filing does not quantify.
The filing does not state the reverse split ratio or the effective date of the split. Investors should check the company's separate proxy or announcement materials for those details, along with the forward-looking risk factors referenced in the company's 2023 Form 10-K.
02—Key points
Key Highlights
- Globalstar intends to voluntarily delist its common stock from the NYSE American and transfer its listing to the Nasdaq Global Select Market, subject to completing a reverse stock split.
- Last expected day of trading on the NYSE American is on or around February 10, 2025.
- Trading on Nasdaq is expected to begin on or around February 11, 2025, under the unchanged ticker "GSAT."
- The company says the delisting and transfer, combined with the reverse split, could make the common stock more attractive to a broader range of investors.
- The 8-K does not disclose the reverse split ratio, effective date, or any financial results.
- Shares continue trading on the NYSE American until the Nasdaq listing begins.
- Filing is procedural (Items 3.01, 8.01, 9.01) and does not report any change in operations or financial condition.
03—Questions
Frequently Asked Questions
Will Globalstar's ticker symbol change?
No. The company expects its common stock to trade on Nasdaq under its current symbol, "GSAT."
When will the stock move from the NYSE American to Nasdaq?
The last day of trading on the NYSE American is expected on or around February 10, 2025, and Nasdaq trading is expected to begin on or around February 11, 2025. Both dates are subject to completion of the reverse stock split.
Why is Globalstar changing exchanges?
The company believes that the delisting and transfer to Nasdaq, combined with the reverse stock split, could make the common stock more attractive to a broader range of investors. The filing does not provide further detail.
Does this filing disclose the reverse split ratio?
No. This 8-K does not state the reverse split ratio or its effective date. Investors should refer to the company's separate announcements or proxy materials for those terms.
Does this 8-K change Globalstar's financial outlook?
No. The filing is limited to the exchange transfer and reverse split plans and contains no financial results, guidance, or operating updates.
04—Continue