---
schema_version: "secwatch.filing_event.v1"
accession: "0001366868-23-000042"
form_type: "8-K"
ticker: "GSAT"
cik: "0001366868"
company_name: "Globalstar, Inc."
filed_at: "2023-03-29T23:59:59+00:00"
generated_at: "2026-06-17T10:11:04.528467+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Globalstar issues $200M 13% Senior Notes due 2029 to repay existing debt

## Summary
- $200M aggregate principal, 13% interest, non-convertible, due September 2029.
- Proceeds to repay ~$148M outstanding under 2019 Facility, plus fees and general corporate purposes.
- Notes issued at 95% of principal; interest 4% cash + 9% PIK (or cash at company's option).
- Transaction expected to close March 31, 2023; Goldman Sachs acted as placement agent.
- Värde Partners affiliate is lead purchaser; notes are senior unsecured obligations.

## SEC filing metadata
- accession: 0001366868-23-000042
- form_type: 8-K
- ticker: GSAT
- cik: 0001366868
- company_name: Globalstar, Inc.
- filed_at: 2023-03-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000042/0001366868-23-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000042/gsat-20230328.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001366868-23-000042
- JSON: https://secwatch.observer/filing/0001366868-23-000042.json
- Plain text: https://secwatch.observer/filing/0001366868-23-000042.txt

## Key facts
- Material Agreements
  Globalstar, Inc. entered into Purchase Agreement with an affiliate of Värde Partners and the other purchasers party thereto valued at $200.0 million (effective 2023-03-28).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: an affiliate of Värde Partners and the other purchasers party thereto
  - Value: $200.0 million
  - Effective: 2023-03-28
  source text: On March 28, 2023, Globalstar, Inc. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) among the Company, as issuer, the subsidiary guarantors party thereto (each, a “Subsidiary Guarantor” and collectively, the “Subsidiary Guarantors”), an affiliate of Värde Partners and the other purchasers party thereto (collectively, the “Purchasers”) providing for the sale of $200.0 million aggregate principal amount of the Company’s non-convertible 13% Senior Notes due 2029 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000042/0001366868-23-000042-index.htm

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