Globalstar issues $200M of 13% Senior Notes due 2029; repays $148M 2019 Facility

Globalstar, Inc.

$200 million aggregate principal of 13.00% Senior Notes due Sept 15, 2029; issued at 95% of par.
Proceeds (approx. $190M) used to repay $148M under 2019 Facility, pay fees, and for general corporate purposes.
Interest: 4% cash + 9% PIK (cash or PIK at company option); step-up if notes outstanding after Mar 15, 2028.
Notes redeemable at 100% + premium before Mar 15, 2025; redemption price steps down thereafter to 100%.
Collateral Agreement grants first-priority security interest in all domestic assets to Partner under Prepayment/Partnership Agreements.

item 1.01 item 2.03 item 9.01

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. entered into Guarantee and Collateral Agreement with the Company’s Partner (effective 2023-04-06).

Action: entry
Agreement: collaboration
Counterparty: the Company’s Partner
Effective: 2023-04-06

Exact text from the filing

Collateral Agreement Following the release of the security interests under the 2019 Facility, the Company entered into a Guarantee and Collateral Agreement (the “Collateral Agreement”), dated April 6, 2023, by and among the Company, certain other grantors and guarantors from time to time party thereto, in favor of the Company’s Partner under its previously disclosed Partnership Agreements.

View on SEC.gov

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

Globalstar, Inc. entered into Indenture with Wilmington Trust, National Association valued at $200.0 million (effective 2023-03-31).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $200.0 million
Effective: 2023-03-31

Exact text from the filing

The Notes were issued pursuant to an indenture, dated as of March 31, 2023 (the “Indenture”), among the Company, the Subsidiary Guarantors, as guarantors, and Wilmington Trust, National Association, as trustee.

View on SEC.gov

Browse all material agreements →

Globalstar, Inc. filing history →

Source: SEC EDGAR

accession 0001366868-23-000044

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.