---
schema_version: "secwatch.filing_event.v1"
accession: "0001366868-23-000155"
form_type: "8-K"
ticker: "GSAT"
cik: "0001366868"
company_name: "Globalstar, Inc."
filed_at: "2023-12-07T23:59:59+00:00"
generated_at: "2026-06-07T16:03:39.974671+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Globalstar enters Thermo Guaranty, issues warrant for 10M shares at $2.00

## Summary
- Thermo Guaranty effective Dec 7, 2023, backing $252M obligations to partner.
- Company issued warrant to Thermo to purchase 10M shares at $2.00 per share.
- 5M warrant shares vested immediately; 5M vest if Thermo advances $25M or more.
- Thermo must maintain $30M liquidity covenant and minimum asset level.
- Stock may be issued to Thermo if it makes payments under guaranty.

## SEC filing metadata
- accession: 0001366868-23-000155
- form_type: 8-K
- ticker: GSAT
- cik: 0001366868
- company_name: Globalstar, Inc.
- filed_at: 2023-12-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000155/0001366868-23-000155-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000155/gsat-20231207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001366868-23-000155
- JSON: https://secwatch.observer/filing/0001366868-23-000155.json
- Plain text: https://secwatch.observer/filing/0001366868-23-000155.txt

## Key facts
- Material Agreements
  Globalstar, Inc. entered into Thermo Guaranty with an affiliate of James Monroe, III, our Executive Chairman and controlling stockholder ("Thermo") valued at $252 million obligation (effective 2023-12-07).
  - Action: entry
  - Agreement: collaboration
  - Counterparty: an affiliate of James Monroe, III, our Executive Chairman and controlling stockholder ("Thermo")
  - Value: $252 million obligation
  - Effective: 2023-12-07
  source text: the Thermo Guaranty became effective on December 7, 2023. As previously disclosed, on February 27, 2023, an affiliate of James Monroe, III, our Executive Chairman and controlling stockholder ("Thermo"), entered into a Secured Guaranty with the Company’s partner under its previously disclosed Partnership Agreements (the "Partner"), whereby Thermo agreed to guaranty certain obligations related to the Partnership Agreements and the related agreements, including the $252 million obligation under the previously disclosed prepayment agreement and satellite procurement agreement (collectively, the "Guaranteed Obligations"), and agreed that Thermo would guaranty (the "Thermo Guaranty") the same obligations directly in favor of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000155/0001366868-23-000155-index.htm

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