Globalstar files registration for initial public offering of common stock
July 18, 2006 Globalstar filed with the Securities and Exchange Commission a registration statement for a proposed initial public offering of common stock shares.The net proceeds of the offering along with the proceeds under its credit facility will fund the launch of Globalstar’s second generation satellite constellation, gateway upgrades and the launch of eight spare satellites to augment its current constellation.
The offer of stock will be make only by a prospectus. The price range for the offering and the number of shares to be offered has not been announced. A copy of the prospectus once available can be obtained form Wachovia Capital Markets.
The registration statement is not yet effective but has been filed with the Securities and Exchange Commission. Prior to registration statement becoming effective securities cannot be sold nor offers accepted.
posted by David and Brooke @ 12:07 PM
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