Globalstar signs $327M satellite procurement deal with MDA; customer to reimburse 95% of costs

Globalstar, Inc.

Ordered 17 satellites from MDA for $327M; option for up to 9 more at $11.4M each.
Delivery by 2025; Rocket Lab USA is principal bus subcontractor.
Potential customer (under Terms Agreement) will reimburse 95% of approved capex, interest, and other costs.
Deferred milestone payments from Feb to Aug 2022 at 0% interest; expects senior secured financing by Aug 2022.
Satellites ensure long-term continuity of mobile satellite services for current and future customers.

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