---
schema_version: "secwatch.filing_event.v1"
accession: "0001366868-24-000105"
form_type: "8-K"
ticker: "GSAT"
cik: "0001366868"
company_name: "Globalstar, Inc."
filed_at: "2024-11-01T23:59:59+00:00"
generated_at: "2026-05-30T06:52:30.327600+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Globalstar enters $1.5B Apple deal for new satellite network; doubles revenue outlook

## Summary
- Apple to prepay up to $1.1B for infrastructure and buy 20% equity stake in Globalstar SPE for $400M.
- Globalstar will use $232M ($219M principal + $13M make-whole) to retire all 2029 Senior Notes.
- New Extended MSS Network includes satellite constellation, ground infrastructure, and global licensing; owned by Globalstar SPE.
- After launch, annual revenue expected to more than double 2024 levels with improved EBITDA margin; investor day in Dec 2024.
- Amendments to 2023 Funding Agreement: elimination of cash sweeps, relaxed covenants, one-year deferral of repayment start to Q3 2026.

## SEC filing metadata
- accession: 0001366868-24-000105
- form_type: 8-K
- ticker: GSAT
- cik: 0001366868
- company_name: Globalstar, Inc.
- filed_at: 2024-11-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 1.02, 3.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1366868/000136686824000105/0001366868-24-000105-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1366868/000136686824000105/gsat-20241029.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001366868-24-000105
- JSON: https://secwatch.observer/filing/0001366868-24-000105.json
- Plain text: https://secwatch.observer/filing/0001366868-24-000105.txt

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