secwatch.observer — SEC 8-K summary
======================================

Issuer:     Globalstar, Inc. (GSAT)
CIK:        0001366868
Form:       8-K
Filed at:   2023-03-29T23:59:59+00:00
Accession:  0001366868-23-000042
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1366868/000136686823000042/0001366868-23-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1366868/000136686823000042/gsat-20230328.htm
  HTML page:      https://secwatch.observer/filing/0001366868-23-000042

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