Globalstar repays $62M First Lien Credit Facility; second lien becomes first lien

Globalstar, Inc.

Repaid approximately $62.0 million of First Lien Credit Facility, funded by $51.1M from debt service reserve and cash on hand.
First Lien Credit Facility terminated; expect insurance premium refund of about $2.5 million.
Second Lien Term Loan Facility liens automatically became first liens; outstanding principal ~$255.0M.

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