[Satellite Today – 4-2-08] Globalstar Inc. intends to raise $135 million that will be used, in part, to cover the procurement and launch of its second-generation satellites, Globalstar announced April 1.
The notes, which can be converted into Globalstar common stock, cash or a combination, will be due in 2028, the underwriters have a 30-day option to purchase an additional $15 million in notes.
Along with funding the development of the satellites, Globalstar also intends to use the proceeds to acquire government securities as well as other general corporate purposes.
Globalstar To Raise $135 Million In Funding
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