Globalstar Files 8-K: Delisting Notice & Other Events

Ticker: GSAT · Form: 8-K · Filed: Jan 21, 2025 · CIK: 1366868

Sentiment: bearish

Topics: delisting, listing-standards, regulatory

Related Tickers: GSAT

TL;DR

GSAT filed an 8-K today, looks like they might be in danger of delisting. Watch closely.

AI Summary

Globalstar, Inc. filed an 8-K on January 21, 2025, to report a notice of delisting or failure to satisfy a continued listing rule, along with other events and financial statements. The company is incorporated in Delaware and its principal executive offices are located in Covington, LA.

Why It Matters

This filing indicates potential issues with Globalstar's continued listing on an exchange, which could impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading and overall financial health.

Key Players & Entities

FAQ

What specific listing rule or standard has Globalstar, Inc. failed to satisfy?

The filing indicates a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule or standard in the provided text.

What are the 'Other Events' being reported in this 8-K filing?

The filing lists 'Other Events' as an item information, but the specific details of these events are not included in the provided text.

What is the significance of the 'Transfer of Listing' mentioned in the filing?

The filing mentions 'Transfer of Listing' as an item information, suggesting a potential move to a different stock exchange or a change in listing status, the details of which are not specified.

When was Globalstar, Inc. incorporated?

Globalstar, Inc. was incorporated in Delaware.

What is the principal executive office address for Globalstar, Inc.?

The principal executive offices of Globalstar, Inc. are located at 1351 Holiday Square Blvd., Covington, LA 70433.

Filing Stats: 819 words · 3 min read · ~3 pages · Grade level 12 · Accepted 2025-01-21 17:13:21

Key Financial Figures

Filing Documents

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 21 , 2025, Globalstar, Inc. (the "Company") announced that, in connection with its previously-disclosed plans to consummate a reverse stock split (the "Reverse Stock Split") of its common stock, par value $0.0001 per share (the "Common Stock"), it notified the NYSE American LLC ("NYSE American") that it intends to voluntarily delist the shares of its Common Stock from the NYSE American and transfer its listing to the Nasdaq Global Select Market ("Nasdaq"), subject to the completion of the Reverse Stock Split. The last day of trading of the Common Stock on the NYSE American is expected to be on or around February 10 , 2025. The Company expects its Common Stock will begin trading on the Nasdaq on or around February 11 , 2025, subject to the completion of the Reverse Stock Split, under its current symbol, "GSAT." Until the Company's Common Stock begins trading on NASDAQ, the Company's Common Stock will continue to trade on the NYSE American under its current symbol, "GSAT."

01 Other Events

Item 8.01 Other Events. The information set forth in Item 3.01 above is incorporated into this Item 8.01 by reference. A copy of the press release issued by the Company announcing the intent to voluntarily delist from the NYSE American and transfer its listing to Nasdaq is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Forward-Looking Statements

Forward-Looking Statements Certain statements contained in this Current Report on Form 8-K and Exhibit 99.1 hereto other than purely historical information, including, but not limited to, expectations regarding the timing of completion of the Reverse Stock Split, delisting from NYSE American and listing on Nasdaq and expected benefits of such transactions, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Risks and uncertainties that could cause or contribute to such differences include, without limitation, those described under Item 1A. Risk Factors of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in the Company's other filings with the SEC. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release to reflect actual results, future events or circumstances or changes in our assumptions, business plans or other changes.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release, dated January 21, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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: January 21, 2025

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