secwatch.observer — SEC 8-K summary
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Issuer:     Globalstar, Inc. (GSAT)
CIK:        0001366868
Form:       8-K
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0001366868-23-000044
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1366868/000136686823000044/0001366868-23-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1366868/000136686823000044/gsat-20230331.htm
  HTML page:      https://secwatch.observer/filing/0001366868-23-000044

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