Globalstar, Inc. Reports on Shareholder Vote Matters
Ticker: GSAT · Form: 8-K · Filed: Dec 19, 2024 · CIK: 1366868
Sentiment: neutral
Topics: shareholder-vote, corporate-governance
Related Tickers: GSAT
TL;DR
GSAT shareholders voted on key company matters on Dec 17th.
AI Summary
Globalstar, Inc. filed an 8-K on December 19, 2024, reporting on matters submitted to a vote of its security holders on December 17, 2024. The filing details the submission of these matters for shareholder approval.
Why It Matters
This filing indicates that Globalstar, Inc. held a shareholder vote, which could impact corporate governance and future strategic decisions.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a shareholder vote and does not contain immediate financial or operational risks.
Key Players & Entities
- Globalstar, Inc. (company) — Registrant
- December 17, 2024 (date) — Date of earliest event reported
- December 19, 2024 (date) — Date of report
FAQ
What specific matters were submitted for a vote of Globalstar, Inc.'s security holders on December 17, 2024?
The filing states that matters were submitted to a vote of security holders on December 17, 2024, but does not specify the exact nature of these matters within the provided text.
When was this Form 8-K filed with the SEC?
This Form 8-K was filed on December 19, 2024.
What is Globalstar, Inc.'s principal executive office address?
Globalstar, Inc.'s principal executive offices are located at 1351 Holiday Square Blvd., Covington, LA 70433.
What is Globalstar, Inc.'s IRS Employer Identification Number?
Globalstar, Inc.'s IRS Employer Identification Number is 41-2116508.
Under which section of the Securities Exchange Act of 1934 is this Form 8-K filed?
This Form 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 833 words · 3 min read · ~3 pages · Grade level 14.7 · Accepted 2024-12-19 17:08:18
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share GSAT NYSE American Indicate
Filing Documents
- gsat-20241217.htm (8-K) — 24KB
- 0001366868-24-000140.txt ( ) — 144KB
- gsat-20241217.xsd (EX-101.SCH) — 2KB
- gsat-20241217_lab.xml (EX-101.LAB) — 21KB
- gsat-20241217_pre.xml (EX-101.PRE) — 12KB
- gsat-20241217_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. On December 17, 2024, by written consent (the "Written Consent"), following the approval and recommendation of the Strategic Review Committee of the Board of Directors (the "Board") of Globalstar, Inc. (the "Company") and the Board, James Monroe III, a director and Executive Chairman of the Board, and certain of Mr. Monroe's affiliates, including FL Investment Holdings LLC, Thermo Funding Company, LLC, Thermo Funding II LLC, Globalstar Satellite, L.P., Monroe Irrevocable Educational Trust, Thermo Properties II LLC, James Monroe III Grantor Trust, Thermo Investments LP, and Thermo XCOM LLC, who collectively hold 1,099,945,953 shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), representing the right to vote approximately 58% of the total issued and outstanding shares of Common Stock and the total voting power entitled to vote on the foregoing matters, approved the following items: 1. an amendment to the Company's Third Amended and Restated Certificate of Incorporation (the "Certificate of Incorporation") to effect a reverse stock split (the "Reverse Stock Split") of the Common Stock, at a ratio of between 1 for 10 to 1 for 25, such ratio to be determined by the Chief Executive Officer or the Chief Financial Officer of the Company (the "Authorized Officers"), in conjunction with the Board (the "Reverse Stock Split Charter Amendment"); and 2. an amendment to the Certificate of Incorporation to reduce the 2,150,000,000 shares of Common Stock currently authorized under the Certificate of Incorporation to a lower amount in proportion to the Reverse Stock Split (the "Authorized Share Reduction Charter Amendment" and, together with the Reverse Stock Split Charter Amendment, the "Charter Amendments"). The Charter Amendments permit (but do not require) the Authorized Officers to: (i) effect the Reverse Stock Split at a ratio of between 1 for 10 to 1 for 25, such ratio to
SIGNATURES
SIGNATURES 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. GLOBALSTAR, INC. /s/ Rebecca S. Clary Rebecca S. Clary Chief Financial Officer Date: December 19, 2024