Globalstar To Raise $135 Million In Funding

[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.