Annual Reports

Quarterly Reports


  • 8-K (Feb 22, 2018)
  • 8-K (Dec 13, 2017)
  • 8-K (Nov 29, 2017)
  • 8-K (Nov 2, 2017)
  • 8-K (Oct 10, 2017)
  • 8-K (Oct 4, 2017)


Globalstar 8-K 2009

Documents found in this filing:

  1. 8-K
  2. 8-K








Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934


Date of Report (Date of earliest event reported):  May 12, 2009


(Exact name of registrant as specified in its charter)






(State or Other Jurisdiction




(IRS Employer

of Incorporation)


File Number)


Identification No.)






461 South Milpitas Blvd. Milpitas, California



(Address of Principal Executive Offices)


(Zip Code)


Registrant’s telephone number, including area code:  (408) 933-4000



(Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





ITEM 3.02 Unregistered Sale of Equity Securities


On April 29 and May 12, 2009, Thermo Funding Company, LLC, an entity controlled by Globalstar’s Chairman and Chief Executive Officer, purchased from Globalstar, Inc. 746,269 and 645,161 shares, respectively, of Globalstar common stock, par value $0.0001 per share (the “Common Stock), at $0.67 and $0.775 per share, respectively.  The cash proceeds of these issuances was $1.0 million in the aggregate, which was used for working capital.


On May 15, 2009, Globalstar and Thermo Funding agreed to exchange $7.5 million of Globalstar’s outstanding indebtedness to Thermo Funding Company under the Second Amended and Restated Credit Agreement for 10,000,000 shares of Common Stock at $0.75 per share.  Globalstar did not receive any cash proceeds as a result of the exchange of its Common Stock for the debt reduction.


The price per share for these transactions was based on the highest consolidated closing bid price of Globalstar Common Stock on NASDAQ on the five days immediately preceding the transaction.  The terms of these transactions were approved by a committee of the independent directors of Globalstar’s Board of Directors and by the entire Board of Directors.


The issuances of the Common Stock described above were made by Globalstar pursuant to the exemption from the registration requirements under Section 4(2) of the Securities Act of 1933 as transactions not involving a public offering.






Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.










/s/ Fuad Ahmad


Fuad Ahmad


Senior Vice President and


Chief Financial Officer



Date: May 18, 2009




Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki