---
schema_version: "secwatch.filing_event.v1"
accession: "0001366868-23-000044"
form_type: "8-K"
ticker: "GSAT"
cik: "0001366868"
company_name: "Globalstar, Inc."
filed_at: "2023-04-06T23:59:59+00:00"
generated_at: "2026-06-17T05:01:30.687832+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001366868-23-000044
- form_type: 8-K
- ticker: GSAT
- cik: 0001366868
- company_name: Globalstar, Inc.
- filed_at: 2023-04-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000044/0001366868-23-000044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000044/gsat-20230331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001366868-23-000044
- JSON: https://secwatch.observer/filing/0001366868-23-000044.json
- Plain text: https://secwatch.observer/filing/0001366868-23-000044.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000044/0001366868-23-000044-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000044/0001366868-23-000044-index.htm

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