secwatch.observer — SEC 8-K summary
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Issuer:     Globalstar, Inc. (GSAT)
CIK:        0001366868
Form:       8-K
Filed at:   2022-11-16T23:59:59+00:00
Accession:  0001366868-22-000103
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Globalstar converts $149.4M debt into 7% Series A Perpetual Preferred Stock
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- Exchanged $149.4M of principal and accrued interest under 2019 Facility for Series A Preferred at $1,000 liquidation preference per share.
- Preferred pays 7.00% cumulative cash dividends quarterly, beginning January 1, 2023.
- Ranks senior to common stock, pari passu with parity securities; redeemable at any time at $1,000/share plus unpaid dividends.
- Issued under Section 4(a)(2) exemption to Thermo affiliates and other lenders; Certificate of Designation filed November 15, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1366868/000136686822000103/0001366868-22-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1366868/000136686822000103/gsat-20221115.htm
  HTML page:      https://secwatch.observer/filing/0001366868-22-000103

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer