Globalstar 8-K 2012
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Item 1.01 Entry into a Material Definitive Agreement
Amendment to Facility Agreement
On March 6, 2012, Globalstar, Inc. entered into Amendment Letter No. 9 to its Facility Agreement which extends to December 31, 2012 the availability period to utilize the funds remaining under the Facility; delays the last date for final in-orbit acceptance of 24 second-generation satellites to April 30, 2013; delays the first repayment date for principal payments to the earlier of eight months after the fourth launch of second-generation satellites or June 30, 2013; and amends certain covenants including (a) adjusted consolidated EBITDA, (b) debt service coverage ratio and (c) net debt to adjusted consolidated EBITDA.
Item 2.02 Results of Operations and Financial Condition.
On March 12, 2012, Globalstar issued a press release to report 2011 fourth quarter and full year financial results. The text of the press release is furnished as Exhibit 99.1 to this Form 8-K.
Item 7.01 Regulation FD Disclosure.
During Globalstar’s previously announced conference call at 10 a.m. Eastern Time on March 12, 2012, written presentation materials will be used and will be available on the company’s website. The text of the presentation materials is furnished as Exhibit 99.2 to this Form 8-K.
The information in this Current Report on Form 8-K and the Exhibits attached hereto is furnished pursuant to the rules and regulations of the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
99.1 Press release dated March 12, 2012
99.2 Presentation materials dated March 12, 2012
Date: March 12, 2012