Globalstar Files Registration Statement for Initial Public Offering of Common Stock
Globalstar has filed a Form S-1 with the SEC for a proposed initial public offering of shares of its common stock. They are trying to fund the launch and procurement of its second-generation satellite constellation, gateway upgrades, and the launch of the eight spare satellites. There is no number of shares or a price range for these offerings proposed yet. Consumers who are interested should contact Wachovia Capital Markets, LLC, 375 Park Avenue, NY 10152 for a copy of the prospectus. They may also email Wachovia at
equity.syndicate@wachovia.com.
The registration statement has been filed, however it is not effective. No one may purchase and no one can accept offers to purchase until the statement becomes effective.
Dean Hirasawa
Globalstar, INC.
July 18, 2006
Globalstar Receives US Government Approval to Transport Satellites for Pre Launch Preparation
The US government has approved Globalstar, Inc, a leader in mobile satellite voice and data service, to export their eight satellites to Europe. This is an effort for pre-launch preparations. These satellites are being prepped for shipment to Italy’s Alcatel Alenia Space facility where they will undergo more validation testing.
Globalstar offers
voice and data services through their first generation LEO (low earth orbit) and these new satellites are spares for these satellites already in place.
SS/L transported in 1998 to 2000 with Globalstar with the in orbit satellites. The satellites in orbit along with the spares were assimilated and tested in Rome, Italy by Alcatel Alenia Space. SS/L is organizing with Alcatel Alenia Space and EADS Astrium to ready the spare satellites for launch. Starsem has Globalstar under contract for the launch of the spare satellites. The reliable Soyuz booster launches these spare satellites from the Baikonur Cosmodrome in Kazakhstan.
Globalstar, Inc has over 200,000 active satellite voice and data units. They offer high value and high quality satellite service to commercial and recreational users. Their services cover over 120 countries around the world. They offer mobile and fixed units, simplex and duplex satellite data modems and a variety of service plans. The benefit for people who travel and work outside an area covered with land or cell service is unsurpassable. “Global customer segments include; oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users.
