Globalstar 8-K 2013
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 13, 2013
(Exact name of registrant as specified in its charter)
Item 1.01. Entry into a Material Definitive Agreement.
Fifth Amendment to Forbearance Agreement Related to 5.75% Convertible Senior Notes due 2028
On May 13, 2013, Globalstar, Inc. (the "Company") entered into a fifth amendment (the “Amendment”) to the April 1, 2013 forbearance agreement with certain beneficial owners and investment managers for beneficial owners (whom we refer to collectively as the "Forbearing Note Holders") of the Company's outstanding 5.75% Convertible Senior Notes due 2028 (the “Notes”). Pursuant to the amendment, the Forbearing Note Holders have agreed to extend the forbearance period through 11:59 P.M. (ET) on May 20, 2013.
Except as described above, all of the other terms of the agreement, as previously amended, remain unchanged. See the Company’s Current Reports on Form 8-K filed on each of April 1, 2013, April 16, 2013, April 23, 2013, April 29, 2013 and May 7, 2013.
The Company can not give any assurance that an exchange transaction will be consummated by any particular date or at all.
Item 7.01. Regulation FD Disclosure.
On May 13, 2013, the Company issued a press release announcing that it had entered into the fifth amendment to the forbearance agreement described in this report. The press release is furnished as Exhibit 99.1 to this Report.
The information in Exhibit 99.1 and in this Item shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
Item. 9.01 Financial Statements and Exhibits
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.
Dated: May13, 2013