---
schema_version: "secwatch.filing_event.v1"
accession: "0001366868-23-000011"
form_type: "8-K"
ticker: "GSAT"
cik: "0001366868"
company_name: "Globalstar, Inc."
filed_at: "2023-02-06T23:59:59+00:00"
generated_at: "2026-06-19T23:57:15.516417+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Globalstar pays $20M, secures forbearance to March 15, explores financing

## Summary
- Paid $20M cash under Second Forbearance Agreement with MDA and Rocket Lab.
- Contractor forbears from exercising remedies on unpaid amounts until March 15, 2023.
- Possible stock payment up to $40M in shares if both parties agree; no obligation yet.
- Company exploring financing to satisfy remaining SPA obligations and refinance 2019 Facility.
- Cannot predict terms of future financing; maximizing shareholder value is driving consideration.

## SEC filing metadata
- accession: 0001366868-23-000011
- form_type: 8-K
- ticker: GSAT
- cik: 0001366868
- company_name: Globalstar, Inc.
- filed_at: 2023-02-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000011/0001366868-23-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000011/gsat-20230131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001366868-23-000011
- JSON: https://secwatch.observer/filing/0001366868-23-000011.json
- Plain text: https://secwatch.observer/filing/0001366868-23-000011.txt

## Key facts
- Material Agreements
  Globalstar, Inc. entered into Second Forbearance Agreement with Macdonald Dettwiler and Associates Corporation and Rocket Lab USA, Inc. (effective 2023-01-31).
  - Action: entry
  - Counterparty: Macdonald Dettwiler and Associates Corporation and Rocket Lab USA, Inc.
  - Effective: 2023-01-31
  source text: On January 31, 2023, Globalstar, Inc. (the “Company”) entered into a Second Forbearance Agreement (the “Agreement”) with Macdonald Dettwiler and Associates Corporation (“Contractor”) and Rocket Lab USA, Inc. (“Subcontractor”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000011/0001366868-23-000011-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.