Globalstar extends debt conversion/refinancing deadline to March 13, 2023, notifies EchoStar of intent to prepay loans

Globalstar, Inc.

Extended deadline to convert or refinance 2019 Facility loans to March 13, 2023.
Provided notice to EchoStar of intent to voluntarily prepay all remaining amounts.
Plans to satisfy 2019 Facility obligations within 30 days.
Intends to use cash flows from operations to reduce external financing needs.

item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Globalstar, Inc. amended 2019 Facility Agreement with EchoStar Corporation (effective 2023-02-13).

Action: amendment
Agreement: credit facility
Counterparty: EchoStar Corporation
Effective: 2023-02-13

Exact text from the filing

On February 13, 2023, Globalstar, Inc. (the “Company”) and its partner (the “Partner”) under its previously disclosed Partnership Agreements agreed to the following amendments: (i) extend the Company’s deadline to convert or refinance the remaining loans outstanding under the 2019 Facility Agreement (originally entered into with Thermo, an affiliate of EchoStar Corporation (“EchoStar”) and certain other unaffiliated lenders) until March 13, 2023

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Source: SEC EDGAR

accession 0001366868-23-000014

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